See how 2022 El Segundo real estate compared to October 2021
Bucking the trend of much of the South Bay, the El Segundo real estate market didn’t see all that much of a slowdown overall. There were 14 active listings compared with 9 in the previous October. Sold homes were up with 12 sales compared with only 7 last year. One major difference was the number of homes that went into escrow with a whopping 25 in October of 2021 and only 5 in October 2022.
Home prices were pretty incredible with a median price of $1,593,000 last month compared with $925,000 one year ago. Amazing!
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.
Lets’s see how the real estate market got started in 2022. Take a look below at the homes, townhomes and coondos that sold in El Segundo during the month of January. It was a good month for closed home sales in El Segundo with 9 on MLS homes closing escrow during the month. The average “list” price was $1,441,656 with the average sold price at $1,471,667 meaning that, in general, homes sold well higher than the list price. The average price per foot was $757 and median days on market was 29. See how that compares with other months on our El Segundo real estate market trends and statistics page.
It wasn’t long ago that a home sale over $2,000,000 in El Segundo was an extreme rarity. Unlike neighborhing Manhattan Beach real estate, El Segundo isn’t known as a luxury market but that’s changing.
In 2013, 2014 and 2015 there was only 1 $2.0+ home sale each year and the common denominator was very large lots. The home in 2013 was land value and the 23,000+ foot lot sold for $2,000,000 which happened to turn into 12 townhome that all sold between the high $700s and $800s. (now that’s a nice return)
2016 was the first year where this luxury price range started to be a bit normal in El Segundo with 5 home sales over $2,000,000. After a slow 2017 there were 6 homes that sold in 2018 and 10 $2.0M+ home sales in 2019.