San Pedro Real Estate Market Update
Market Report for the Month of January
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 January.
Total Area Data
It’s a brand new year, which means some brand new Real Estate Data! Let’s breakdown the numbers for the first month of 2019. Counting all 9 areas, San Pedro saw a total of 87 New Listings in January, an increase of 28.36% compared to last December which had a total of 67.
When property was listed, there was an Average Listing Price of $525,586.56 (+18.92%) with a Median Listing Price of $517,155.56 (-5.22%). On average a property would stay on the market for 41.34 days with a median of 40.23.
In January there was an Average Sale Price of $656,920.78 with a Median Sale Price of $504,952.78. In total, San Pedro Saw 49 sales in January which is 35% less than the previous month at 76.
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
Leading the pack in the New Year is Group One, comprised of Eastview, Vista Del Oro, and Miraleste Pines, which totaled 30 New Listings.
When listed, properties in this group had an Average Listing Price of $491,034. and a Median Listing Price of $369,000. Once on the market, properties would sit for 37.67 days with a median of 24 days.
Upon Sale there was an Average Price of $420,421 and a Median Sale Price of $534,750. By the end of January, Eastview, Vista Del Oro, and Miraleste Pines had accounted for 22 of the 49 sales in January. In total sales, Group One had $15,393,220.
Following up is South Shores, Palisades, and Point Fermin, coming in second this month with a total of 28 New Listings. On average property was listed at a price of $609,744.67 with a Median Listing Price of $621,500.
After properties were listed they had an Average Days on Market of 36 with an equal Median Days on Market of 36. When sold, they had an Average Sale Price of $989,899.67 and a Median Sale Price of $530,000.
Lastly, Group Two accounted for 14 of the 49 sales in January, racking up $18,370,950 in Real Estate.
Last but certainly not least is Plaza, Holy Trinity, and San Pedro – North. In the month of January, this group brought 26 New Listings to the market.
Properties started with an Average Listing Price of $475,681 and a Median Listing Price of $595,000. Once on the market, properties generally stayed on the market for an average of 50.34 days with a median of 38 days.
January had an Average Sale Price of $560,441.67 and a Median Sale Price of $574,000. By the end of January, Group Three tallied 13 sales providing total sales of $6,674,945.