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Home Prices in San Pedro, CA (90731 and 90732) for February 2014

By
Real Estate Agent with Keller Williams Realty BRE 01715547

Home Prices in San Pedro, CA (90731 and 90732) for February 2014

Real estate market data for San Pedro, CA provided by Danielle Whitney / Team Whitney - San Pedro, CA 90731 and 90732 Real Estate. 

San Pedro, CA Home Prices (90731 and 90732)

Areas included: Barton Hill, Holy Trinity, Lower South Shores, Miraleste Pines, Palisades, Plaza, Point Fermin, North San Pedro, Upper South Shores, Vista Del Oro

 

Home prices in San Pedro, CA (90731 and 90732) have risen 14.7% in the last year, and they are continuing to increase, but at a slower rate.  Lower inventory is an indicator prices should continue to rise, and also has multiple offers coming in on homes priced close to market value.  Team Whitney is projecting about 5-6% in appreciation for the housing market this year in San Pedro, CA.  We do not expect prices to increase as quickly as they did in the past, as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse.    Data of February 2014 Real Estate Days on Market and List Price in San Pedro, CA including South ShoresChart of February 2014 Real Estate Days on Market and List Price in San Pedro, CA including Vista Del Oro

Team Whitney created the data to the right and the graph above displaying the time frame from January 2010 to February 2014.  Team Whitney has had questions from clients in the past about "median" vs. "average".  My name is Danielle Whitney, from Team Whitney's Real Estate Team, and I went to UCLA and majored in applied mathematics.  Before we analyze the data, I will explain the difference between average and median.  If you have a mathematical mind and understand the difference, you can skip down to the next paragraph regarding our San Pedro, CA home prices' analysis for February 2014.  The difference is best explained with an example.  Let's say we have home sale prices in San Pedro, CA for February 2014 of $290,000 - $315,000 - $350,000 - $425,000 - $475,000 - $505,000 - $1,200,000.  To calculate an average, we would add all of the home prices up and divide by 7 (the number of home prices we have).  This would give us an average of $508,571.43.  As you can see, this is not a very accurate portrayal of the data since the average is higher than 6 of the home sale prices in San Pedro, CA.  A more accurate method would be to use the median.  To find the median, you list the home sale prices in San Pedro, CA in increasing order, which I have already done above for you.  The median price will be the price in the middle of the data, which in this case would be the value of $425,000.  $425,000 has three home sale prices below it and three home sale prices above it.  As you can see, this is a lot more accurate reflection of home sale prices in San Pedro, CA.  Now, let's take a look at how the real estate market is performing in regards to home prices in San Pedro, CA (90731 and 90732) for February 2014...        

 

In February 2014, the median days on market for a single family residence, condo, or townhome was 36 days.  This is comparable to April of 2010.  Days on market is the number of days a listing is active on the market before an offer is accepted or the listing contract with a real estate agent is terminated.  In February 2014, the median list price was $447,533.  The median list price per square foot in San Pedro is currently $322, and the median sale price per square foot is $311.  List price is the price a property is listed for on the market, and sale price is how much the property sold for when escrow closed.  36.1% of the listings have had a price cut during their listing period, which means many properties are not being listed at market value.  There are also currently 163 homes in San Pedro in the foreclosure stage.  As you can see from the graph above, list prices have been steadily rising for the past few years.  If you are considering buying a home, you can still find deals on a house in San Pedro, but having a good real estate team who understands the market is crucial.  Don’t sit on the bench for too long, as prices are rising, and many of our listings are starting to sell within a few days of hitting the market.  To make sure you obtain the most money for your home if you are a seller, you’ll want to have an experienced San Pedro real estate team perform a Maximum Home Value Audit for your home.  Robert Whitney and Danielle Whitney, the founders of Team Whitney, were both born and raised in San Pedro.  Make sure to consult with them before making real estate decisions, as they are true local experts in the San Pedro area.  As of today, March 10, 2014, there are 114 properties on the market in San Pedro, CA.  14 properties are distressed sales, which is 12.28% of the current inventory.  Distressed sales include HUD owned properties, bank owned properties or real estate owned properties (REO), short sales (in foreclosure and notice of default), auction properties, and probate sales.   Click the following link to view the current home prices for real estate in San Pedro, CA.

  

Team Whitney created the graph and the data below displaying the time frame from January 2012 to February 2014.  In February 2014, the median days on market for a single family residence, condo, or townhome was 36 days (as stated above).  This is significantly shorter than the national average.

Chart of February 2014 Real Estate Days on Market in San Pedro, CA including Miraleste Pines

Data of February 2014 Real Estate Days on Market in San Pedro, CA including Point Fermin

Chart of February 2014 Real Estate Sales Count per Month in San Pedro, CA including Holy Trinity Area 

Team Whitney created the graph to the right and the data below showing the number of real estate sales in San Pedro, CA from January - March in 2011, 2012, 2013, and 2014.  Only note the figures from January and February, as today is March 10, 2014, so all of the sales from this month have not been recorded yet.  In February 2014, there were 38 sales in San Pedro, CA.  This was an increase of 11.76% from January 2014.  This number includes single family residences, condos, and townhomes.  

 

Data of February 2014 Real Estate Sales Count per Month in San Pedro, CA including North San Pedro   

Team Whitney created the graph below and the data below showing the median list price (original price) vs. sale price in San Pedro, CA from April 2013 - March 2014.  Only note the figures from April 2013 - February 2014, as today is March 10, 2014, so all of the sales from Data of February 2014 Real Estate List Price Compared to Sale Price in San Pedro, CA including the Palisades Areathis month have not been recorded yet.  In February 2014, the median list price was $447,533, and the median sale price is $417,311.  This number includes single family residences, condos, and townhomes.  As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have a real estate team that does a thorough market analysis of the San Pedro home on which you are making an offer.  To discuss home prices in San Pedro, CA (90731 and 90732) for February 2014 in greater depth or if you have questions, please contact Danielle Whitney at (310) 987-9103.

 

 Chart of February 2014 Real Estate List Price Compared to Sale Price in San Pedro, CA including Vista Del Oro   San Pedro CA Real Estate Market and Community Reports

Find Homes for Sale in San Pedro, CA  90731 and 90732

Visit our website to search for homes in San Pedro, CA or to be notified when San Pedro, CA homes come on the market.

To find out what your home is worth in the current market, please visit the link "What's My Home Worth?" or call Danielle Whitney at (310) 987-9103.

For properties in one of the specific areas in San Pedro, CA, please click one of the links below:

Barton Hill Area Properties for Sale, San Pedro, CA

Eastview Rancho Palos Verdes Area Properties for Sale, Rancho Palos Verdes, CA

Holy Trinity Area Properties for Sale, San Pedro, CA

Lower South Shores Area Properties for Sale, San Pedro, CA

Miraleste Pines Area Properties for Sale, San Pedro, CA

Palisades Area Properties for Sale, San Pedro, CA

Plaza Area Properties for Sale, San Pedro, CA

Point Fermin Area Properties for Sale, San Pedro, CA

San Pedro North Area Properties for Sale, San Pedro, CA

Upper South Shores Area Properties for Sale, San Pedro, CA

Vista Del Oro Area Properties for Sale, San Pedro, CA

If you would like to receive our Home Prices in San Pedro, CA (90731 and 90732) blog each month, please call or text Danielle Whitney at (310) 987-9103 or email her at Danielle.Whitney@TeamWhitney.com.   

 

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

The percentage of mortgaged homes in California 90+ days delinquent but not yet in foreclosure was down to 1.2% in Q2 2015. The delinquency rate will continue to decrease until the Fed begins cutting back their economic stimulus efforts, expected in 2017. Fewer delinquent homeowners means NODs and foreclosures will continue to decrease in the months ahead. However, as prices flatten, delinquency rates will decline more slowly, then stop. At some point around late 2017, expect prices to decrease, diminishing home equities.

Apr 05, 2017 11:01 PM