San Pedro Real Estate Market Update
Market Report for the Month of February
The below will provide market data, obtained from the California Regional Multiple Listings Service, in order to further understand the trends of our current Real Estate Market in San Pedro and the South Bay Community. Data that has been obtained and detailed is intended to be reliable, but is not guaranteed to be so.
Data has been compiled in 3 ways; first as an area as a whole, which 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 of areas, they are then broken down into groups of three, in order to provide workable averages and medians that 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 small number of individual sales and statistical data.
At the end of this post will be a visual breakdown of all statistics and data compiled for the month of February.
Total Area Data
One note before we begin this months breakdown. In order to provide you good data, I ultimately try to find ways to be able to refine it and be more accurate. This month I had found another tool at my disposal, allowing me to to further grab only data that would pertain to the function of this blog. Hopefully, going forward, numbers will be slightly more accurate than the previous months before. Lastly, I am refraining in this blog showing the percentages of increase or decrease in all categories, as it would be unnecessary to add them until back in until March.
Either way, Happy February! We have a whole month to account for, so let’s get right to it. This month, the San Pedro Real Estate Market gave us 72 new listings, which was just slightly lower than January’s 86.
For San Pedro as a whole, there was an Average Listing Price of $728,176.44 and a Median Listing Price of $667,500. Once listed there was an Average Days on Market of 44.11 and a Median Days on Market of 38.56.
February had an Average Sale Price of $653,786.78 with a Median Sale Price of $620,638.89. Rounding out the area as a whole, in February we saw 38 total sales adding up to $23,686,400 in Real Estate Sales.
For further quantification of the data, all areas included in this Market Update have been broken down into groups of three based on various factors:
- Eastview, Vista Del Oro, and Miraleste Pines
- South Shores, Palisades, and Point Fermin
- Plaza, Holy Trinity, and San Pedro – North
First up to bat for the month of February is Eastview, Vista Del Oro, and Miraleste Pines. By the end of the month of February, Group One accounted for 32 of the 72 New Listings in the San Pedro Area.
As a property was listed, it had an Average Listing Price of $670,314.67 with a Median Listing Price of $579,000. On average the property stayed on the market for 56.67 days with a median day count of 46.33.
Lastly, properties in this group had an Average Sale Price of $732,270 and a Median Sale Price of $627,000 during the month of February. By the end of the month Group One had totaled 20 sales, the most of the three groups, adding up to $12,842,400 in Real Estate sales.
Up next we have South Shores, Palisades, and Point Fermin; Group Two was able to bring 17 New Listings to the Market, coming in second for the month of February.
Once listed, there was an Average Listing Price of $606,881.33 with a Median Listing Price of $549,000. The properties in these areas stayed on the market for an average of 23.33 days with a median of 23 days.
In February, South Shores, Palisades, and Point Fermin saw 11 sales with an Average Sale Price of $657,027.65 and a Median Sale Price of $580,000. By the end of the month Group Three had totaled $4,550,500 in Real Estate sold.
Lastly, we have Plaza, Holy Trinity, and San Pedro – North which saw 15 New Listings through the month of February out of the 72 total.
During this month Group Three had an Average Listing Price of $907,333.33 and a Median Listing Price of $644,000. Group Three also had an Average Days on Market count of 52.33 with a Median of 46.33.
When a property sold they in these areas, they had an Average Sale Price of $572,062.67 with a Median Sale Price of $569,500. All in all, Group Three had 11 sales this month, totaling $6,293,500 in property sold.