May 2020 Home Sales and Home Prices in El Segundo

El Segundo Real Estate Update - May Home Sales

May 2020 picked up a little steam in terms of home sales in El Segundo with 6 closed escrows compared with only 3 a month earlier.  It was still a dramatic drop from one year earlier with 25 home sales in May of 2019.  View a chart of the past 15 months of active listings, pending escrows and closed home sales in El Segundo.

May Home Sales in El Segundo

 

MLS#
Type
 Address
Price
$ Per Foot
Bed/Bath
Sq Feet
Year
Sold Date
SB20017258
CONDO/A
815Main ST   #302
$699,000
$610.48
2/2,0,0,0
1145/A
1983/ASR
5/15/2020
20564678
SFR
815PENN ST  
$1,099,000
$981.25
2/2,0,0,0
1120/
1962
5/19/2020
SB20104028
SFR/D
840Hillcrest ST  
$1,115,000
$879.34
3/2,0,0,0
1268/A
1950/ASR
5/31/2020
SB20026224
TWNHS/A
548 EImperial AVE  
$1,150,000
$584.05
3/3,0,1,0
1969/B
2019/SLR
5/12/2020
SB20032247
SFR/D
837Virginia ST  
$1,950,000
$695.68
3/4,0,0,0
2803/S
1918/ASR
5/15/2020
SB20102866
SFR/D
709 EPine AVE  
$2,509,200
$721.66
5/2,2,1,0
3477/B
2020/BLD
5/29/2020

By the Numbers – El Segundo Home Sales and Home Prices for April 2020

April 2020 Home Sales and Real Estate Stats

April was a VERY slow month for home sales in El Segundo with only 3 properties closing escrow during the month.  The median list price was $1,098,000 with the median sales price of $1,100,000 meaning the three homes basically sold for full price. The average price per foot was $754 and average days on market was 38.   View the April 2020 home sales in other South Bay cities as well.

Type
Address
Price
$ Per Foot
Bed/Bath
Sq Feet
Year Built
CONDO/A
770 W
Imperial AVE   #47
$590,000
$500.00
2/1,0,1,0
1180/A
1966/ASR
TWNHS/A
305
Kansas ST   #B
$1,100,000
$541.87
3/3,0,0,0
2030/A
2006/PUB
SFR/D
818
Penn ST  
$1,290,000
$1,220.44
2/1,0,0,0
1057/A
1930/ASR

Only 2 Homes Have Ever Been Priced over $3,500,000 in El Segundo – They’re Both Currently on the Market

Can El Segundo Handle the high End Luxury Market?

While home prices in neighboring Manhattan Beach often go well into the multi millions, El Segundo is still a far more affordable town to live in. Unlike it’s neighbor to the south, sold home prices in El Segundo average around $1,200,000 with anything over $3,000,000 extremely rare.   

There has never been an on market home sale in El Segundo priced over $3,000,000 but that’s likely to change. 

There have only been 3 homes ever priced over $3,000,000 and two of them are currently on the market.  The home at 650 W Maple is priced at $3,785,000 and the home (property would be more accurate) at 728 W Mariposa is on the market at $3,750,000 and is acautally in escrow.  This is a really unique property so doesn’t quite equate to a standard residential sale as it’s a new home under construction on a massive double lot with a main home with 4,200 feet and a guest home/ADU as well.

The Two highest priced homes on the MLS in El Segundo are both currently on the market.

El Segundo Real Estate and the New Reality

The world is certainly changing at the moment and so is real estate and the way “normal” real estate actions are taking place.  Although we have seen a slight slowdown, there is still a constant flow of homes being listed for sale and deals being put together. The California Association of Realtors pushed Gavin Newsom to establish real estate as an essential business in the midst of this pandemic. So, while we are definitely in strange and unchartered times, the business of real estate continues to move forward.

 

At Vista Sotheby’s International Realty, our agents and support team remain fully operational while adhering to a remote work plan. In addition to virtually conducting our daily team meetings, we are utilizing our top-tier technological resources in order to continue providing you with the best quality service if doing a real estate transaction is in your current plan. These resources include:

Virtual Open Houses

In lieu of public open houses, Vista Sotheby’s International Realty agents will be hosting Virtual Open Houses via Facebook or Instagram live stream. These will allow you to virtually view the property and ask any questions from the comfort of your home. Contact me each week for the full list of our homes that will be hosting Virtual Open Houses that weekend.

Matterport 3D Home Tours

Matterports provide a three-dimensional virtual rendering of a home used to create a realistic, fully immersive viewing experience. This “digital twin” gives you full access to see a property in depth without having to see it in person.

Virtual Live Showings

Interested in a home but “shelter in place” ordinances are preventing you from touring it in person? No problem! With interactive virtual showings, you can still get a live, one-on-one tour of a home just as you would in person.

Virtual Staging

Curate by Sotheby’s International Realty allows you to stage and visualize a house as your own before purchase. The available furniture and decor designs are also shoppable within Curate by Sotheby’s International Realty, as well as on our global website, sothebysrealty.com, through a “shop-the-room” functionality.

Click here to download the Curate App

Give me a phone (or video!) call if you have any questions about our new normal in real estate, including the market and the procedures available to protect you if you are in the market, or even just to say hello – I would love to hear how you are doing and learn about your new normal! I look forward to being able to meet with you in person once this is all behind us. Until then, stay home, stay healthy, and stay safe.

Keith

Real Estate Recap – March 2020 El Segundo Home Sales

March was a slow month for real estate in El Segundo with only 6 homes sold during a usually active month.  The lowest priced sale of the month was located at as usual as it’s a larger complex and usually the the least expensive condo building in the area.  The median asking price in March was $1,124,250 and the median sold price was $1,012,500 which may be an indicator that the current “sellers” market may be shifting a bit.  The average price per foot for the month was $517.  Average days on market was 55 but the median days on market was an impressive 9 days.

View the current homes for sale in El Segundo

March 2020 Home Sales & Prices in El Segundo CA

Type   Address Price $ Per Foot Bed/Bath Sq Feet Year Built Sold Date
CONDO/A 770 W Imperial AVE   #43 $520,000 $517.41 2/1,0,1,0 1005/A 1966/ASR 3/18/2020
CONDO/A 123 E Oak AVE   #105 $745,000 $593.15 2/2,0,0,0 1256/A 1979/ASR 3/6/2020
SFR/D 935 Cypress ST   $1,000,000 $886.52 3/1,0,1,0 1128/A 1924/PUB 3/2/2020
SFR/D 120 W Sycamore AVE   $1,025,000 $1,205.88 2/1,0,0,0 850/A 1928/ASR 3/18/2020
SFR/D 848 Pepper ST   $1,395,000 $857.93 3/2,0,0,0 1626/A 1960/ASR 3/17/2020
SFR/D 823 Sheldon ST   $1,700,000 $896.62 4/2,0,1,0 1896/A 1963/ASR 3/26/2020

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El Segundo Real Estate. All information deemed reliable but not guaranteed.