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 June.
Total Area Data
Summer has been heating up and so has the Real Estate Market in San Pedro! Let’s dive in to it. To start things off, San Pedro through the month of June saw 90 New Listings come step into the market, which was 3.45% higher than the Month of May.
On average a property would have a listing price of $667,355.67 while there was a median listing price of $677,205.44. After being listed, properties would stay on the market for an average of 30.89 days with a median of 22.78 days.
Once property had been picked up by a buyer, they on average would pay $655,053.33 with a median sales price of $644,921.11.
By the end of the month, San Pedro had seen 47 homes sold. As compared to the month of May, this was a decrease of 17.54%. Lastly, those 47 properties combined for a Total Sales Volume of $28,711,880 for the month of June. Total Sales Volume had also decreased by 21.92%.
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
Within Eastview, Vista Del Oro, and Miraleste Pines there were a total of 41 new listings this month. There was an average listing price of $622,217.67 and a median of $629,816.67. For properties that were located in Eastview, Vista Del Oro, or Miraleste Pines, they had an average of 52 days on the market with a median of 34.67 days.
By the time that these properties had sold, they had an average sale price of $622,202 along with a median sales price of $605,430. These three areas through the month of June accounted for 16 of the 47 sales for June. Area one also totaled $9,061,480 for the month.
Area Two: South Shores, Palisades, and Point Fermin
Making our way around to Area Two we have South Shores, Palisades, and Point Fermin. For the month of June these three areas combine for a total of 18 new listings, the least of the three combined areas.
For area two there was an average listing price of $827,811 alongside a median listing price of $838,166.33. Properties within these areas would stay on the market for an average of 16.67 days with a median days on market count of 21. Definitely a quick sell if you live in South Shores, Palisades, or Point Fermin.
Once sold, properties had an average sale price of $724,508 and a median sale price of $719,666.67. By the end of the month South Shores, Palisades, and Point Fermin combined for 13 sales. These 13 sales would total to $2,928,000 in Real Estate.
Area Three: Plaza, Holy Trinity, and San Pedro – North
Last but not least we have the Plaza, Holy Trinity, and San Pedro – North, areas. These areas had 31 new listings during the month of June, which puts them second for productivity.
To start, properties in these areas would have an average listing price of $522,038.33 with a median listing price of $563,633.33. On average, a property in these areas would stay on the market for 24 days with a median of 20.33.
Once sold, there was an average sale price of $618,450 with a median sale price of $609,666.67. By the end of June, Plaza, Holy Trinity, and San Pedro – North, combined for a total of 18 properties sold. This was the most out of the three groups for the month of June. These 18 properties would total for $3,622,133.33 in Real Estate Sold.