San Pedro Real Estate Market Update

Market Report for the Month of September 2019

As I stated in a blog a few months ago, the Market Update is always looking to be improved. This is month, I made a change in a way in which data is gathered. Moving forward there will be separate data for Single Family Residence, Condominiums, and Townhomes. SFR will have their own data and the remaining two will be grouped together. 

The reason for this change was that Single Family Residences, in contrast with Condominiums and Townhomes, generally have a large discrepancy in price. When grouped together the data may have been skewed by these price differences; with the property types split I hope for more accurate averages for sales and areas.

With that said, in this month’s blog we will not be comparing the month to month percentage change due to the new categories. That piece of data will return at the end of October when we have two months worth of data. But for now, let’s move on to Septembers numbers! 

Total Area Data (SFR):

To begin, this month San Pedro recorded 28 new listings for the month of September. The Average Listing Price during this month was $801,125 with a median of $834,000. Once on the market, a Single Family Residence, on average, took 24 days to sell. The median days to sell count was 17 days. 

Moving forward, once sold, there was a an average sale price of $820,532 with a median of $820,000 during the month of September. Lastly, San Pedro as a whole saw 27 sales totaling to $22,154,375 in Real Estate sold. 

Area Breakdown

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 (SFR)

Beginning with Eastview, Vista Del Oro, and Miraleste Pines, these areas accounted for 8 of the 28 listings for September. The average listing price was $801,125 with a median of $834,000. Once listed, homes in these neighborhoods spent 26 days on the market with a median of 28. 

Once sold, there was an average sale price of $862,209 with a median sale price of $835,000. By the end of the month, Area One compiled 11 sales resulting in $9,484,300 in sales volume. 

Area Two: South Shores, Palisades, and Point Fermin

Moving on, we have South Shores, Palisades, and Point Fermin. These areas finished the month with 11 new listings, the most out of the three groupings. Average listings prices for Single Family Residences in these areas were $1,133,545 with a median listing price of $1,100,000. 

The average days on the market count in this group was 18 days with a median of 29. Once sold, there was an average sale price of $876,608 and a median sale price of $1,100,000. Finally, South Shores, Palisades, and Point Fermin saw 10 sales through the month with a Total Sales Volume of $8,766,075. 

Area Three: Plaza, Holy, Trinity, and San Pedro (North)

Last but not least we have Plaza, Holy Trinity, and San Pedro (North). This group accounted for the remaining 9 new listings during the month of September. Listing Prices had an average price of $667,278  with a median of $699,000. 

Homes stayed on the market for an average of 29 days with a median of 34. Once sold, there was an average price of $650,667 along with a median of $667,500. Lastly, Plaza, Holy Trinity, and San Pedro (North) were able to achieve 6 sales through September which totaled $3,904,000. 

Total Area Data (Condominium / Townhome): 

Switching gears, there were 21 new listings for Condominiums and Townhomes during the month of September. The average listing price for these properties this month was $505,218 with a median listing price of $487,000. 

Generally, condominiums and townhomes this month would stay on the market for an average of 38 days with a median of 33. Once sold, there was an average price of $470,300 with a median of $452,500. 

To conclude, there were 14 total sales during the month of September which tallied $6,586,500 in Total Sales Volume. 

In order to keep this blog from running too long, below is a condensed version of the Area Breakdown for Condominiums and Townhomes. 

Area One: Eastview, Vista Del Oro, and Miraleste Pines CND/TWNHM

• 11 New Listings
• Average Listing Price of $470,036
• Average Days on Market of 61 Days
• Average Sale Price of $407,036
• 14 Total Sales with Total Sales Volume of $2,036,500

Area Two: South Shores, Palisades, and Point Fermin

• 3 New Listings 
• Average Listing Price of $689,667 
• Average Days on Market of 18 Days
• Average Sale Price of $585,333
• 3 Total Sales with Total Sales Volume of $1,756,000

Area Three: Plaza, Holy, Trinity, and San Pedro (North)

• 8 New Listings 
• Average Listing Price of $484,425
• Average Days on Market of 28 Days 
• Average Sale Price of $465,667
• 6 Total Sales with Total Sales Volume of $2,794,000