San Pedro Real Estate Update
Market Report for the Month of August, 2018
The below will provide market data, obtained from the California Regional Multiple Listing Service, in order to further understand the trends of our current Real Estate Market in the San Pedro and South Bay Area. Data obtained and detailed is intended to be reliable, but is not guaranteed.
Data has been compiled in a 3 ways; first as an area as a whole, this area includes the following criteria: Eastview, South Shores, Palisades, Point Fermin, Vista Del Oro, Plaza, Miraleste Pines, Holy Trinity, and San Pedro – North.
Following the total grouping, these area are then divided into groups of three, in order to provide averages and medians to maintain some significance. Lastly, the areas will have averages and medians individually, in certain situations and areas we must be aware of outliers due to the small number of individual sales and statistics.
At the end of this post will be a visual breakdown of all statistics for the month of August.
Total Area Data
For the San Pedro area during the month of August there were a total of 59 new listings, which shows and increase of 5.36% for the month of August. The median and average sale price were $590,333.00 and $653,219.33 with their respective increases of 1.87% and 6.88% over compared to their July results.
Throughout the month of August the San Pedro market saw a total of 54 home sold, with and average of 21 Days to Sell and a median of 18 Days to Sell. That is a decrease of 15.63% of homes sold compared to July and a increase of 28.57% of median days to sell, while it shows a decrease of 25% on average of Days to Sell.
Finally, we saw an average Listing Price of $794,000 and median Listing Price of $685,000 showing respective percentage changes of 15.32% and 24.41%
In order to breakdown the data a little further, areas have been separated into groups based on several factors, these areas are group as such:
- Eastview, Vista Del Oro, and Miraleste Pines.
- South Shores, Palisades, and Point Fermin.
- Plaza, Holy Trinity, San Pedro – North.
Firstly, Eastview, Vista Del Oro, and Miraleste Pines had 24 new listings, with an average sale price of $653,219.33 and a median sale price of $661,500.00. On average a home was on the market for 24.33 days and the median shows 17 days. The average listing price for these areas was $690,190 with a median of $721,000. Lastly, these three areas saw 23 total homes sold in the month of August.
In our second grouping, of South Shores, Palisades, and Point Fermin there were a total of 15 new listings with an average listing price of $1,105,367.00 and a median of $684,175.00. The average sale price during the month of August was $798,434.00 with a median of $910,000.00. Lastly, the area saw a total sale number of 8 homes.
Finally, Plaza, Holy Trinity, and San Pedro -North show a total of 20 new listings, with an average list price of $559,590.00 and a median of $557,450.00. On average, the sale price of a home in these areas was $569,473.00 with a median of $550,000.00. Through August, we had a total of 23 homes sold.
For all data presented in table form, click on “Market Update Data”.