H

BEACH CITIES AND PV AREAS AVERAGE PRICE FOR SALE vs. SOLD May 2011-July 2012

ousing Market Trends

same behavior as all the homes when put together.

South Bay DIGS deep dives the local real estate market and explores market activity and trends as the summer comes to a close.

Residential house prices are a function of supply and demand. Market conditions can be characterized by analyzing several market factors such as the ones we list below. The data is derived from an aggregation of South Bay homes and each individual home may not have the

(The data below is not a recommendation to buy or sell real estate. Please consult your local real estate professional for further guidance on local market conditions.)

BEACH CITIES AND PV AREAS AVERAGE PRICE PER SQ.FT. May 2011-July 2012

SALE TO LIST PRICE Generally speaking, this number shows how much buyers in an area are paying for homes compared to list price. If the number is above 100%, a majority of the buyers are paying more than the asking price for the house. If the percentage number is below 100%, homes are selling at a discount of what most sellers are asking in that area, (although that doesnt mean a seller will take an offer at that price, rather market conditions are indicating discounts versus list price.)

PRICE PER SQ FOOT The price per sq foot is the list price of the home divided by the number of square feet. It may be useful in analyzing pricing trends when comparing the sale/sold prices of several homes of similar size. You should also consider what specifics features comparable properties offer, (i.e. fewer bedrooms, extra garage space, etc.) as additional property features should factor into the analysis.

BEACH CITIES AND PV AREAS NUMBER OF HOMES FOR SALE vs. NUMBER OF HOMES SOLD May 2011-July 2012

BEACH CITIES AND PV AREAS AVERAGE DAYS ON MARKET vs. SALE TO LIST PRICE PERCENTAGE May 2011-July 2012

HOMES FOR SALE versus HOMES SOLD The number of homes that are active for sale in the South Bay as compared to the number of Sold homes. Generally, if the number of homes for sale is increasing and the number of homes sold is decreasing, then more homes are sitting on the market longer and prices may face downward pressure. Conversely, if the homes for sale are selling at a higher pace than new homes coming on the market, prices may face upward pressure and move up.

DAYS ON MARKET The number of days a listing is active in the Multiple Listing Service (MLS) before it is entered into pending status. In a buyers market, the DOM may be higher because inventory may take longer to sell. In a sellers market the DOM are typically fewer.

Information reported from TrendGraphix reflect market activity for Hermosa Beach, Manhattan Beach, Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Redondo Beach, Rolling Hills, and Rolling Hills Estates

* All reports are published August 2012, based on data available at the end of July 2012. All reports presented are based on data supplied by the CARETS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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NUMBERS

150
HIGHEST SELLING PRICE YTD 2012 Listing Agent: Bryn Stroyke, Stroyke Properties Selling Agent: David Caskey, Shorewood Realtors

As we approach the 4th Quarter of 2012, weve compiled some interesting numbers derived from local real estate data (January - August 31st, 2012)

3.71%
Discount (Selling Price vs. Original List Price) CLOSED SALES 2012 VERSUS 5.53% DISCOUNT (Selling Price vs. Original List Price) CLOSED SALES 2011 +67 closed sales versus same time period in 2011

Homes sold at $2,000,000 or above in 2012. 60.67% of the homes sold were in Manhattan Beach & Hermosa Beach

945 7
CLOSED SALES 2012

$12,513,962

THE

$10,000,000
A total of six (6) homes are currently on the market for over $10,000,000 with average days on market at 268 days.

MARKET VALUATION OF CLOSED SALES 2012 + $70,111,830 in closed sales volume versus same time period in 2011

CLOSED SALES 2012 Average Selling Price of $7,794,852 at 105 average days on market

$1,308,217,278
*All property data taken from MRMLS Closed Sale Single Family Residence (SFR): for areas: Manhattan Beach, Hermosa Beach, Redondo Beach, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates. January 1, 2012 August 31, 2012. Current properties for sale taken as of press time. Information is deemed accurate but not guaranteed.

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ST RA N

SALES
CLOSED SALES 2012
January 1 August 31, 2012
North Redondo Beach 90278
CLOSED SALES 127 Versus 113 closed sales in 2011 Minimum Sales Price: $393,750 Maximum Sales Price: $1,230,000 Average Sales Price: $665,482 Average Price Per Sq Ft: $414.37 Average Discount: 1.89% (Selling Price vs. Original List Price.)

Manhattan Beach 90266

Rancho Palos Verdes 90275

CLOSED SALES 241 Versus 234 closed sales in 2011 Minimum Sales Price: $569,900 Maximum Sales Price: $10,500,000 Average Sales Price: $1,866,963 Average Price Per Sq Ft: $671.33 Average Discount: 3.23% (Selling Price vs. Original List Price.)

CLOSED SALES 211 Versus 219 closed sales in 2011 Minimum Sales Price: $200,000 Maximum Sales Price: $5,500,000 Average Sales Price: $1,127,368 Average Price Per Sq Ft: $423.03 Average Discount: 4.16% (Selling Price vs. Original List Price.)

Hermosa Beach 90254

CLOSED SALES 88 Versus 68 closed sales in 2011 Minimum Sales Price: $550,000 Maximum Sales Price: $12,513,962 Average Sales Price: $1,593,826 Average Price Per Sq Ft: $679.38 Average Discount: 4.97% (Selling Price vs. Original List Price.)

Hollywood Rivera 90277

CLOSED SALES 31 Versus 62 closed sales in 2011 Minimum Sales Price: $610,000 Maximum Sales Price: $3,362,500 Average Sales Price: $1,186,274 Average Price Per Sq Ft: $482.02 Average Discount: 1.84% (Selling Price vs. Original List Price.)

Rolling Hills Estates 90275

CLOSED SALES 64 Versus 23 closed sales in 2011 Minimum Sales Price: $655,000 Maximum Sales Price: $3,999,000 Average Sales Price: $1,210,575 Average Price Per Sq Ft: $435.93 Average Discount: 3.21% (Selling Price vs. Original List Price.)

South Redondo Beach 90277

CLOSED SALES 68 Versus 54 closed sales in 2011 Minimum Sales Price: $410,000 Maximum Sales Price: $1,650,000 Average Sales Price: $873,881 Average Price Per Sq Ft: $444.50 Average Discount: 2.54% (Selling Price vs. Original List Price.)

Palos Verdes Estates 90274

CLOSED SALES 116 Versus 119 closed sales in 2011 Minimum Sales Price: $765,000 Maximum Sales Price: $5,225,000 Average Sales Price: $1,731,352 Average Price Per Sq Ft: $543.42 Average Discount: 3.68% (Selling Price vs. Original List Price.)

Rolling Hills 90275

CLOSED SALES 12 Versus 14 closed sales in 2011 Minimum Sales Price: $1,275,000 Maximum Sales Price: $7,000,000 Average Sales Price: $2,661,875 Average Price Per Sq Ft: $690.86 Average Discount: 10.66% (Selling Price vs. Original List Price.)

(ALL PROPERTY DATA TAKEN FROM MRMLS CLOSED SALE SINGLE FAMILY RESIDENCE (SFR): FOR AREAS: MANHATTAN BEACH, HERMOSA BEACH, REDONDO BEACH, PALOS VERDES ESTATES, RANCHO PALOS VERDES, ROLLING HILLS, ROLLING HILLS ESTATES. JANUARY 1, 2012 AUGUST 31, 2012.) CURRENT PROPERTIES FOR SALE TAKEN AS OF PRESS TIME. INFORMATION IS DEEMED ACCURATE BUT NOT GUARANTEED.)

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LOCAL MARKET TRENDS market update

Manhattan
90266

Beach Beach Beach Beach

90254 90277 90278
This week . . . The median single family home list price Hermosa Beach this week is $1,402,000. A total of 26 single family homes have been on the market for an average of 123 days with an average price per square foot of $631. Least expensive listing: $669,000 Most expensive listing: $6,700,000 PRICE AND VALUE: Inventory and days-on-market are both trending higher recently. This week prices bumped up a bit but the trend of recent weeks is generally downward. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyers market to a Sellers market. This week . . . The median single family home list price in South Redondo Beach this week is $1,087,500. A total of 25 single family homes have been on the market for an average of 93 days with an average price per square foot of $514. Least expensive listing: $707,000 Most expensive listing: $10,000,000 PRICE AND VALUE: Inventory is tightening and days-onmarket is falling. These are relatively bullish signs for prices. Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyers market to a Sellers market. This week . . . The median single family home list price in North Redondo Beach this week is $654,500. A total of 20 homes have been on the market for an average of 31 days with an average price per square foot of $435. Least expensive listing: $424,900 Most expensive listing: $1,359,000 PRICE AND VALUE: While days-on-market appears to be trending lower, the overall conditions appear to be weakening a bit. While we e continue to see prices in this zip code bouncing around the pricing plateau, if inventory continues to grow relative to demand, it is likely that we will see downward pressure on pricing. The market is not giving strong up or down signals from these data.

Hermosa

Redondo

Redondo

This week . . . The median single family home list price Manhattan Beach this week is $1,796,857. A total of 51 single family homes have been on the market for an average of 96 days with an average price per square foot of $634. Least expensive listing: $699,000 Most expensive listing: $22,499,000 PRICE AND VALUE: The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. The market seems to have paused around the Median price plateau and prices seem to also be settling at a similar plateau across the board. While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in the market, larger homes are coming more available and buyers are tending to get more home for their money.
CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

Most Expensive 25% of Homes: Median price: $3,899,000 Median Sq.Ft: 3,970 Total Inventory: 23 Median Age: 20 Avg. Days on Market: 201 Upper-Middle 25% of homes: Median price: $1,999,000 Median Sq.Ft: 3,200 Total Inventory: 24 Median Age: 10 Avg. Days on Market: 87 Lower-Middle 25% of homes: Median price: $1,455,000 Median Sq.Ft: 2,782 Total Inventory: 24 Median Age: 30 Avg. Days on Market: 63 Least expensive 25% of homes: Median price: $832,000 Median Sq.Ft: 1,320 Total Inventory: 24 Median Age: 59 Avg. Days on Market: 135 32% of Homes for Sale have had a price decrease 9 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $4,975,000 Median Sq.F.: 3,375 Total Inventory: 9 Median Age: 10 Avg. Days on Market: 113 Upper-Middle 25% of homes: Median price: $1,839,000 Median Sq.Ft: 3,211 Total Inventory: 9 Median Age: 11 Avg. Days on Market: 129 Lower-Middle 25% of homes: Median price: $1,199,000 Median Sq.Ft: 1,900 Total Inventory: 9 Median Age: 37 Avg. Days on Market: 159 Least expensive 25% of homes: Median price: $825,000 Median Sq.Ft: 1,560 Total Inventory: 9 Median Age: 56 Avg. Days on Market: 154 28% of Homes for Sale have had a price decrease 3 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $1,899,000 Median Sq.Ft.: 3,817 Total Inventory: 13 Median Age: 17 Avg. Days on Market: 268 Upper-Middle 25% of homes: Median price: $1,299,000 Median Sq.Ft.: 3,365 Total Inventory: 13 Median Age: 22 Avg. Days on Market: 147 Lower-Middle 25% of homes: Median price: $888,000 Median Sq.Ft.: 1,824 Total Inventory: 13 Median Age: 59 Avg. Days on Market: 65 Least expensive 25% of homes: Median price: $599,000 Median Sq.Ft.: 1,063 Total Inventory: 13 Median Age: 76 Avg. Days on Market: 139 25% of Homes for Sale have had a price decrease 7 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $1,050,000 Median Sq.Ft.: 2,920 Total Inventory: 13 Median Age: 31 Avg. Days on Market: 79 Upper-Middle 25% of homes: Median price: $754,900 Median Sq.Ft.: 1,922 Total Inventory: 13 Median Age: 21 Avg. Days on Market: 67 Lower-Middle 25% of homes: Median price: $612,000 Median Sq.Ft.: 1,129 Total Inventory: 14 Median Age: 59 Avg. Days on Market: 203 Least expensive 25% of homes: Median price: $474,500 Median Sq.Ft.: 1,032 Total Inventory: 14 Median Age: 60 Avg. Days on Market: 179 20% of Homes for Sale have had a price decrease 5 properties were absorbed this week (sold or taken off market.)

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REAL ESTATE DATA PROVIDED BY ALTOS RESEARCH LLC. ALL INFORMATION CONTAINED ABOVE & HERIN IS BASED ON PROPERTIES CURRENTLY LISTED FOR SSALE AND AVAILABLE PUBLICALLY. THE DATA PRESENTED IN THIS REPORT IS ACCURATE TO THE BEST OF OUR KNOWLEDGE, BUT CANNOT BE GUARANTEED AS SUCH. REPORTING DATED SEPTEMBER 3RD, 2012. NOTHING IN THIS REPORT OR ANY OTHER REPORT IN THIS MAGAZINE IS A RECOMMENDATION TO BUY OR SELL REAL ESTATE.

Estates Verdes
90274 90275
This week . . . The median single family home list price in Palos Verdes Estates this week is $2,050,000. A total of 41 homes have been on the market for an average of 173 days with an average price per square foot of $576. Least expensive listing: $1,089,000 Most expensive listing: $10,500,000 PRICE AND VALUE: Supply and demand has the market pointing towards a slight slowing trend, with prices and inventory levels both relatively unchanged in recent weeks. Prices across the quartiles are holding at a steady plateau, although the market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as theyre doing now, you can often find short-term investment opportunities. This week . . . The median single family home list price in Rancho Palos Verdes this week is $1,149,500. A total of 87 single family homes have been on the market for an average of 124 days with an average price per square foot of $447. Least expensive listing: $699,000 Most expensive listing: $12,500,000 PRICE AND VALUE: Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to Days on Market trends to gauge whether buyer interest is changing with the available supply.

Palos Verdes

Rancho Palos

Hills
90277
This week . . . The median single family home list price in Rolling Hills this week is $3,850,000. A total of 18 homes have been on the market for an average of 140 days with an average price per square foot of $780. Least expensive listing: $968,200 Most expensive listing: $10,990,000 PRICE AND VALUE: This week prices bumped up a bit but the trend of recent weeks is generally downward. Inventory has been relatively steady in recent weeks. Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that theres a portion of the market being priced at a premium.

Rolling

Estates
90274
This week . . . The median single family home list price in Rolling Hills Estates this week is $1,495,000. A total of 22 homes have been on the market for an average of 84 days with an average price per square foot of $524. Least expensive listing: $795,000 Most expensive listing: $2,799,000 PRICE AND VALUE: The market appears to be placing an increasing premium on homes, as the median price is relatively close to the markets price high point. Given current inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse. When list prices and price per square foot consistently increase in tandem, as theyre doing now, you can often find short-term investment opportunities.

Rolling Hills

CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

CHARACTERISTICS PER QUARTILE:

Most Expensive 25% of Homes: Median price: $4,950,000 Median Sq.Ft.: 5,754 Total Inventory: 11 Median Age: 18 Avg. Days on Market: 226 Upper-Middle 25% of homes: Median price: $2,494,500 Median Sq.Ft.: 4,455 Total Inventory: 12 Median Age: 30 Avg. Days on Market: 133 Lower-Middle 25% of homes: Median price: $1,587,000 Median Sq.Ft.: 2,982 Total Inventory: 12 Median Age: 40 Avg. Days on Market: 134 Least expensive 25% of homes: Median price: $1,279,500 Median Sq.Ft.: 2,299 Total Inventory: 12 Median Age: 50 Avg. Days on Market: 63 32% of Homes for Sale have had a price decrease 4 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $2,325,000 Median Sq.Ft: 4,397 Total Inventory: 32 Median Age: 17 Avg. Days on Market: 253 Upper-Middle 25% of homes: Median price: $1,342,500 Median Sq.Ft: 2,790 Total Inventory: 32 Median Age: 46 Avg. Days on Market: 104 Lower-Middle 25% of homes: Median price: $1,014,500 Median Sq.Ft: 2,374 Total Inventory: 32 Median Age: 48 Avg. Days on Market: 111 Least expensive 25% of homes: Median price: $814,350 Median Sq.Ft: 1,808 Total Inventory: 32 Median Age: 52 Avg. Days on Market: 143 36% of Homes for Sale have had a price decrease 8 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $6,300,000 Median Sq.Ft: 11,996 Total Inventory: 5 Median Age: 29 Avg. Days on Market: 195 Upper-Middle 25% of homes: Median price: $4,299,000 Median Sq.Ft: 4,724 Total Inventory: 5 Median Age: 49 Avg. Days on Market: 103 Lower-Middle 25% of homes: Median price: $3,495,000 Median Sq.Ft: 4,294 Total Inventory: 5 Median Age: 35 Avg. Days on Market: 90 Least expensive 25% of homes: Median price: $3,100,000 Median Sq.Ft: 4,818 Total Inventory: 5 Median Age: 47 Avg. Days on Market: 89 55% of Homes for Sale have had a price decrease 2 properties were absorbed this week (sold or taken off market.)

Most Expensive 25% of Homes: Median price: $1,899,000 Median Sq.Ft: 4,142 Total Inventory: 6 Median Age: 33 Avg. Days on Market: 51 Upper-Middle 25% of homes: Median price: $1,624,500 Median Sq.Ft: 3,115 Total Inventory: 6 Median Age: 49 Avg. Days on Market: 88 Lower-Middle 25% of homes: Median price: $1,395,000 Median Sq.Ft: 2,453 Total Inventory: 6 Median Age: 52 Avg. Days on Market: 148 Least expensive 25% of homes: Median price: $899,000 Median Sq.Ft: 1,714 Total Inventory: 7 Median Age: 56 Avg. Days on Market: 51 44% of Homes for Sale have had a price decrease NO properties were absorbed this week (sold or taken off market.)

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