San Pedro Real Estate Market Update
Market Report for the Month of June 2019
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 obtained and detailed in this blog is intended to be reliable, but is not guaranteed to be so.
There are 3 ways the data is compiled; 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 August.
Total Area Data
Summer is coming to an end, along with the month of August, so it’s that time again! Let’s take a deeper look at the past month to see how the Real Estate Market performed in San Pedro. This month, we saw a total of 54 new listings, which compared to July was 27.78% less.
Moving along, when properties hit the market, they had an average listing price of $694,271 with a median of $654,950. Respectively, these categories both had increases of 3.30% and 2.87% compared to July’s numbers.
Following, throughout our town there was an average sale price of $590,000 with a median sale price of $615,635. For both these metrics were increases, 5.92% and 6.10%.
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
Area One: Eastview, Vista Del Oro, and Miraleste Pines
As we break these numbers down further we start with Eastview, Vista Del Oro, and Miraleste Pines. These three areas were able to gather 23 new listings for the month of August. The average listing price in this area was $791,378 with a median of $749,000.
Properties in this area generally spent 28 days on the market on average with a median of 38 days. Once sold, there was an average price of $651,036 with a median of $725,000. By the end of the month, Area One had 25 total sales with a total sales volume of $16,275,900.
Area Two: South Shores, Palisades, and Point Fermin
Secondly, we move on to South Shores, Palisades, and Point Fermin. Through August, these areas compiled 14 new listings. Listings in these areas had an average listing price of $693,811 with a median of $669,500.
These listings spent an average of 21 days on the market with a median of 39 days. After being sold, there was an average sale price of $676,917 with a median of $700,500. By the end of the month there were a total of 12 sales in these areas with a total sales volume of $8,122,999.
Area Three: Plaza, Holy Trinity, and San Pedro – North
Rounding out the groups is Plaza, Holy Trinity, and San Pedro – North. By the end of August, there were 17 new listings in these areas. These listing had an average listing price of $563,271 with a median of $599,000.
With that said, properties that went on the market spent 19 days on average on the market before being sold with a median of 30 days. Once sold, there was an average sale price of $525,611 with a median of $557,500. Lastly, Area Three compiled 18 sales through the month of August which totaled $9,461,000 in Real Estate sold.