El Segundo January Real Estate Recap

El Segundo real estate report

January by the numbers

Here’s a brief overview of the month that was for January 2022.   The El Segundo real estate market saw only 9 sold homes for the month at a median sales price of $1,170,000.  Homes averaged 52 days on market before going pending and price per foot was $751. 

See how this compares with other months on our El Segundo real estate market trends page.  If you want to see more details on the homes that sold in El Segundo during January click here.

719 Maryland – 2019’s Highest Priced Home Sale in El Segundo

2019’s high sale of the year goes to 719 Maryland which was a new construction 5 bedroom, 3300* single family home in the heart of the community.  Sitting on  a nice sized lot of almost 6500 feet the home had a spacious backyard and the location was ideal with a real community/neighbhrood feel.

View the current homes for sale in El Segundo.

719 Maryland sold for $2,550,000 and sold prior to actually going on the market.

While it was not long ago that homes over $2,000,000 in El Segundo were incredibly rare…..there were 10 homes that sold over $2,000,000 during the year.

*information provided from the listing, deemed reliable but not guaranteed.

Why Days on Market Can Be Misleading on El Segundo Homes

By Keith Kyle

I’m sure most MLS systems are different but here in the South Bay the days on market on the CRMLS can be a bit misleading.  Many buyer and agents use days on market as a negotiating tool….the longer the home has been on the market, the more leverage the buyer has to come in low or negotiate other favorable terms.

The problem is that days on market doesn’t always indicate just how long the home has been available and is not necessarily indicative of “active” status.  As realtors when our clients accept an offer we have the option of changing the status to “pending” or “active under contract”.  Pending stops the days on market from accruing, but active under contract does not.  A home can go into escrow on day one, change the status to active under contract (again meaning it’s in escrow) and if it falls out of escrow 20 days later the days on market for the home will show 20.  It’s very misleading as the home has not been available for those 20 days and now puts the seller and listing agent at a disadvantage…..even though it sold the first day.

The other aspect that leads to misinformation is that with this days on market accruing on many home, it does not allow for an accurate picture of the market.  For instance a certain area of town or city itself may show an average days on market for a certain month to be one thing….when many of those homes were not actually available.  It may show days on market at 45 when the reality is that the homes in the community actually go into escrow after 30.

It’s a problem that needs to be addressed as it can change perceptions….both on an individual home and the market in general.

Everything is on the up in the world of El Segundo Real Estate

By Keith Kyle

There’s just not much that’s down in the El Segundo housing market.  The number of homes on the market is up, pending home sales are up, and closed escrows are up.  One other key aspect of the market that’s up is the prices with home prices in El Segundo continuing to rise.  The median home price in El Segundo for March of 2016 was just over a whopping $1,000,000.

Visit our current El Segundo homes for sale page to see the current listings or visit our recent home sales page to see the recent sales in El Segundo and the South Bay

El Segundo CA Home Prices Up in December

By Keith Kyle340_Via_Colusa_front7 copy

The December numbers are in and if there was any thought that the real estate market in El Segundo was leveling the numbers certainly say otherwise.

The average home price in El Segundo for the homes that closed escrow during December was $1,023,000 with a median price of $999,000. Those are big numbers that still shows no sign of slowing or reversing.   See the chart below for the December home sales numbers for El Segundo and the South Bay for December of 2015.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 9 $999,000 $735,000 35.9%
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 24 $1,475,000 $1,360,000 8.5%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $836,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%

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El Segundo Real Estate. All information deemed reliable but not guaranteed. The agent providing the information contained herein may not have been a buyer’s and/or seller’s agent. This information is based on data pulled from CRMLS