Wayne Craig - Estate Properties

11/11/2025

🏡 Palos Verdes Peninsula Market Report – November 2025

📊 Regional Takeaway
• 🏠 Pricing: Strength in Palos Verdes Estates and Rancho Palos Verdes offsets declines in Rolling Hills Estates.
• 📈 Inventory: Mixed, with supply tightening in luxury tiers but expanding in mid-range markets.
• ⏳ Market Pace: Days on market trending upward across the Peninsula.
• 💵 Sales Activity: Fewer closings overall, consistent with seasonal slowdown.

Despite softer momentum, the Palos Verdes Peninsula remains a top-performing coastal market, driven by limited land, high demand for ocean-view properties, and a strong base of owner-occupants.

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🌄 City-by-City Breakdown

Palos Verdes Estates
• Median Sales Price: $3,425,000 ⬆️ 30.4%
• Days on Market: 65.5 ⬆️ 198%
• Median Price per Sq. Ft.: $964 ⬇️ 6.2%
• Sales Ratio: 19.2% ⬇️ 6%
• Inventory: 52 ⬇️ 17%
➡️ Significant price rebound compared to earlier in the year, though homes are taking longer to sell; demand remains strong for move-in-ready properties.
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Rolling Hills
• Median Sales Price: No sales recorded this month
• Days on Market: —
• Median Price per Sq. Ft.: —
• Sales Ratio: 0% ⬇️ 8%
• Inventory: 12 ⬇️ 8%
➡️ With no November closings, activity is temporarily paused; expect new listings early 2026 as luxury sellers re-enter the market.
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Rancho Palos Verdes
• Median Sales Price: $1,825,000 ⬆️ 10.6%
• Days on Market: 23 ⬆️ 21%
• Median Price per Sq. Ft.: $728 ⬆️ 2.8%
• Sales Ratio: 21% ⬆️ 3%
• Inventory: 176 ⬇️ 2.8%
➡️ Solid price growth and stable activity; still one of the most accessible and active submarkets on the Peninsula.
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Rolling Hills Estates
• Median Sales Price: $1,550,000 ⬇️ 15.4%
• Days on Market: 28 ⬇️ 33%
• Median Price per Sq. Ft.: $674 ⬇️ 16.9%
• Sales Ratio: 12.5% ⬇️ 17%
• Inventory: 40 ⬆️ 18%
➡️ Noticeable month-over-month decline due to smaller home sales; rising inventory creating better conditions for buyers.

11/11/2025

🏡 South Bay Market Report – November 2025

📊 Regional Takeaway

• 🏠 Pricing: Mixed trends — modest gains in Torrance, stability in Hermosa, and softening in Manhattan and Redondo.

• 📈 Inventory: Up in most areas, giving buyers more leverage.
• ⏳ Market Pace: Homes taking longer to sell, particularly at higher price points.
• 💵 Outlook: Expect a calmer winter season with continued balance between buyers and sellers as the market resets after several strong years.

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🌴 City-by-City Breakdown

Redondo Beach
• Median Sales Price: $1,507,675 ⬇️ 4.4%
• Days on Market: 13.5 ⬇️ 37%
• Median Price per Sq. Ft.: $838 ⬇️ 1.5%
• Sales Ratio: 27.5% ⬇️ 1.0%
• Inventory: 218 ⬆️ 15%
➡️ Market remains healthy with strong mid-tier demand, though sales pace is slowing slightly and listings are up compared to last quarter.

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Hollywood Riviera
• Median Sales Price: $1,475,000 ⬇️ 20.2%
• Days on Market: 9 ⬇️ 49%
• Median Price per Sq. Ft.: $929 ⬆️ 11%
• Sales Ratio: 33.3% ⬆️ 11%
• Inventory: 33 ⬇️ 8%
➡️ Noticeable dip in median pricing tied to smaller sales mix, but homes are still moving quickly; buyer activity remains solid for well-priced listings.

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Torrance
• Median Sales Price: $1,144,500 ⬆️ 7.5%
• Days on Market: 19.5 ⬇️ 17%
• Median Price per Sq. Ft.: $692 ⬆️ 0.04%
• Sales Ratio: 32.4% ⬇️ 2%
• Inventory: 290 ⬆️ 25%
➡️ One of the most active South Bay markets; moderate price growth and expanding inventory point to steady, sustainable demand.

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Hermosa Beach
• Median Sales Price: $3,862,500 ⬆️ 1%
• Days on Market: 20.5 ⬇️ 18%
• Median Price per Sq. Ft.: $1,210 ⬇️ 7.6%
• Sales Ratio: 25.7% ⬇️ 6%
• Inventory: 101 ⬇️ 23%
➡️ High-end segment holding firm with limited supply; pricing stable but fewer luxury transactions compared to mid-year.
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Manhattan Beach
• Median Sales Price: $2,075,000 ⬇️ 6.9%
• Days on Market: 50 ⬆️ 108%
• Median Price per Sq. Ft.: $966 ⬇️ 23%
• Sales Ratio: 26.9% ⬆️ 5%
• Inventory: 52 ⬇️ 19%
➡️ Cooling trend in luxury sales; properties taking longer to move as buyers become more price-sensitive heading into the holidays.

10/31/2025

𝘾𝙤𝙢𝙞𝙣𝙜 𝙎𝙤𝙤𝙣! 𝙁𝙖𝙣𝙩𝙖𝙨𝙩𝙞𝙘 𝙈𝙖𝙧 𝙑𝙞𝙨𝙩𝙖 𝙊𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙮 – 𝙈𝙞𝙙-𝘾𝙚𝙣𝙩𝙪𝙧𝙮 𝙬𝙞𝙩𝙝 𝘼𝘿𝙐

Nestled on a tranquil, tree-lined street in the highly sought-after Mar Vista neighborhood, this mid-century modern residence offers incredible potential for those looking to create their dream home. The property has evolved over the years with thoughtful additions and now features a spacious 4-bedroom, 4.5-bath main home with extended living areas a covered central patio ideal for outdoor workouts or entertaining and a fully equipped 2-bedroom, 1-bath ADU—perfect for extended family, guests, or additional income.

The large kitchen, complete with a Viking range and adjoining family area, provides the perfect space for gatherings and casual dining. The living room opens seamlessly to a welcoming backyard—ideal for outdoor living, barbecues, and relaxation.

At the rear of the property sits a detached three-car garage with direct alley access. Above the garage is a two-bedroom, one-bath ADU featuring its own private entrance, an open-concept living and kitchen area, and a large balcony overlooking the backyard—a perfect retreat or rental opportunity.

Located near major freeways, local boutiques, farmers markets, neighborhood cafés, and top-rated schools, this home combines the best of Mar Vista living.

With some care and creativity, this home can be transformed into a truly exceptional property in one of the Westside’s most desirable neighborhoods.

10/26/2025

📢 𝗟𝗲𝗴𝗮𝗹 𝗨𝗽𝗱𝗮𝘁𝗲 𝗳𝗼𝗿 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗣𝗿𝗼𝘃𝗶𝗱𝗲𝗿𝘀 – Rental Price Gouging
Los Angeles County has extended its Declaration of Emergency related to rental price gouging through November 28, 2025.

This means rental price-gouging protections remain in effect, and housing providers must continue following the rental cap restrictions tied to the emergency declaration.

⚖️ 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗞𝗻𝗼𝘄:

• 𝟭𝟬% 𝗥𝗲𝗻𝘁 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗟𝗶𝗺𝗶𝘁:
Housing Providers may not raise rent by more than 10% over the most recent rent paid by a prior tenant or the amount advertised before January 7, 2025.

• 𝟭𝟲𝟬% 𝗼𝗳 𝗙𝗮𝗶𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗩𝗮𝗹𝘂𝗲 𝗥𝘂𝗹𝗲:
If a property wasn’t previously rented, owners may charge up to 160% of the HUD Fair Market Value (FMR) for that unit.

🔗 Check the latest FMR chart (updated Oct 1, 2025): HUD FMR Charts. https://www.huduser.gov/portal/datasets/fmr.html

🚫 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀:
𝗩𝗶𝗼𝗹𝗮𝘁𝗶𝗼𝗻𝘀 — 𝗲𝘃𝗲𝗻 𝘂𝗻𝗶𝗻𝘁𝗲𝗻𝘁𝗶𝗼𝗻𝗮𝗹 — 𝗰𝗮𝗻 𝗿𝗲𝘀𝘂𝗹𝘁 𝗶𝗻 𝗳𝗶𝗻𝗲𝘀 𝘂𝗽 𝘁𝗼 $𝟭𝟬,𝟬𝟬𝟬 𝗽𝗲𝗿 𝗶𝗻𝗰𝗶𝗱𝗲𝗻𝘁.

👉 Stay informed and compliant to avoid penalties and ensure fair housing practices.

Secure .gov websites use HTTPS A lock ( ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

10/20/2025

Legal Update:

New California laws relating to landlords, Realtors and condo owners have been passed in Sacramento that will go into effect shortly. Here’s a summary of the most recent changes:

🏠 AB 628 – Landlord Appliance Requirement
Beginning January 1, 2026, landlords will be required to provide both a stove and a refrigerator (in working order) in all new rental agreements or in any extensions or renewals of existing rental agreements executed after that date.

📸 AB 723 – Disclosure of Altered Listing Media
Agents will soon be required to disclose whenever digitally altered or enhanced media is used in marketing materials. This includes:
• Digitally staged photos
• AI-modified images
• Edited or adjusted floor plans, renderings, or diagrams
🏢 HOA Balcony & Exterior Element Reports
Starting January 1, 2026, Homeowners Associations will be required to provide wooden balcony/exterior element inspection reports, details of any repairs, and related assessments to buyers during escrow.

🚭 New Seller Disclosure – Smoking History
Also, effective January 1, 2026, sellers will be required to disclose whether:
• There is currently a smoker residing in the property, or
• There has ever been a smoker living in the property.

10/12/2025

Open House Sunday October 12, 2025 | 1 PM – 4 PM

575 Esplanade Unit #102, Redondo Beach

It’s the weekend, and what better way to spend it than by touring a stunning home just steps from beach!

Join me today from 2 PM to 4 PM at 575 Esplanade Unit #102 right above the beach and bike path.

This beautiful 3-bedroom, 2-bathroom open-floor town home is nicely remodeled with a luxurious primary bedroom suite, and an outdoor lifestyle just a short from Riviera Village, the Redondo Beach Pier, top-rated restaurants, and Veteran’s Park.

Stop by to say hello, and picture your life by the beach.

10/08/2025

𝗣𝗮𝗹𝗼𝘀 𝗩𝗲𝗿𝗱𝗲𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟱

📊 Regional Takeaway
• 🏠 Prices: Mostly stable to modestly lower across the Peninsula.
• 📈 Inventory: Rising in nearly every city, leading to increased buyer leverage.
• ⏳ Days on Market: Up 20–70% in most areas, signaling a slower pace.
• 💵 Sales Volume: Lower overall, particularly in luxury neighborhoods above $2M.

Overall, Palos Verdes markets are entering a balanced phase — still supported by strong fundamentals but cooling after several years of rapid growth. Buyers now enjoy more negotiating room, while sellers must price strategically.
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Palos Verdes Estates
• Median Price: $2,950,000 ⬇️ 0.9%
• Days on Market: 26 ⬇️ 3.7%
• Inventory: 65 listings ⬆️ 12%
• Closed Sales: 13
➡️ High-end market cooling slightly; steady buyer interest but longer negotiations.
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Rancho Palos Verdes
• Median Price: $1,725,000 ⬇️ 12.2%
• Days on Market: 16 ⬇️ 39%
• Inventory: 199 listings ⬆️ 22.8%
• Closed Sales: 36
➡️ Noticeable pricing correction after strong spring activity; listings trending up.
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Rolling Hills
• Median Price: $5,500,000 ⬆️ 9.0%
• Days on Market: 9 ⬇️ 95%
• Inventory: 16 ⬆️ 14%
• Closed Sales: 1
➡️ Ultra-luxury market remains niche; limited but high-value sales.
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Rolling Hills Estates
• Median Price: $1,470,000 ⬇️ 36.1%
• Days on Market: 20.5 ⬆️ 173%
• Inventory: 48 listings ⬆️ 55%
• Closed Sales: 6
➡️ Significant short-term correction; homes taking longer to sell amid growing supply.

𝗜𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗵𝗮𝘃𝗲 𝗮 𝗳r𝗶𝗲𝗻𝗱 𝗼𝗿 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗺𝗼𝘃𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗦𝗼𝘂𝘁𝗵 𝗕𝗮𝘆, 𝗼𝗿 𝗷𝘂𝘀𝘁 𝘄𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲 𝘄𝗼𝗿𝘁𝗵 𝗽𝗹𝗲𝗮𝘀𝗲 𝗴𝗶𝘃𝗲 𝗺𝗲 𝗮 𝗰𝗮𝗹𝗹.

10/08/2025

𝗦𝗼𝘂𝘁𝗵 𝗕𝗮𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟱

📊 Regional Takeaway
• 🏠 Prices: Mostly steady with small declines inland, solid gains in coastal zones.
• 📈 Inventory: Rising, offering buyers more leverage.
• ⏳ Days on Market: Lengthening slightly, signaling a balanced shift.
• 💵 Sales: Slower pace, especially for luxury properties.
Overall, the South Bay market is transitioning from a hot seller’s market to a balanced environment, with healthy long-term fundamentals supported by strong local demand and limited supply.
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Redondo Beach
• Median Price: $1,560,000 ⬆️ 12.2%
• Days on Market: 30 days ⬆️ 87%
• Inventory: 211 units ⬆️ 5%
• Closed Sales: 43
➡️ One of the strongest markets; prices continue to rise steadily.
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Hollywood Riviera
• Median Price: $2,311,500 ⬇️ 8.6%
• Days on Market: 60.5 days ⬆️ 764%
• Inventory: 28 units ⬇️50.8%
• Closed Sales: 19
➡️ Lower inventory increased days on market prices slightly declining.
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Torrance
• Median Price: $1,160,000 ⬆️ 16%
• Days on Market: 18 days ⬆️ 50%
• Inventory: 283 units ⬆️ 24%
• Closed Sales: 93
➡️ Remains one of the most active and resilient South Bay markets.
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Hermosa Beach
• Median Price: $2,311,500 ⬇️ 8.5%
• Days on Market: 60.5 days ⬆️ 76%
• Inventory: 28 units ⬇️ 51%
• Closed Sales: 6
➡️ Luxury sales slowing; fewer high-end listings moving.
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Manhattan Beach
• Median Price: $3,410,000 ⬆️ 0.3%
• Days on Market: 14 days ⬆️ 69%
• Inventory: 112 units ⬇️ 16%
• Closed Sales: 21
➡️ Still commanding premium values despite slower turnover.

𝗜𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗵𝗮𝘃𝗲 𝗮 𝗳r𝗶𝗲𝗻𝗱 𝗼𝗿 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗺𝗼𝘃𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗦𝗼𝘂𝘁𝗵 𝗕𝗮𝘆, 𝗼𝗿 𝗷𝘂𝘀𝘁 𝘄𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲 𝘄𝗼𝗿𝘁𝗵 𝗽𝗹𝗲𝗮𝘀𝗲 𝗴𝗶𝘃𝗲 𝗺𝗲 𝗮 𝗰𝗮𝗹𝗹.

09/13/2025

Open House Saturday September 13, 2025 | 2 PM – 4 PM
575 Esplanade Unit #102, Redondo Beach

It’s the weekend, and what better way to spend it than by touring a stunning home just steps from beach!

Join me Saturday from 2 PM to 4 PM at 575 Esplanade Unit #102 right above the beach and bike path.

This beautiful 3-bedroom, 2-bathroom open-floor town home is nicely remodeled with a luxurious primary bedroom suite, and an outdoor lifestyle just a short from Riviera Village, the Redondo Beach Pier, top-rated restaurants, and Veteran’s Park.

Stop by to say hello, and picture your life by the beach.

09/11/2025

𝐏𝐚𝐥𝐨𝐬 𝐕𝐞𝐫𝐝𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 – 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟎𝟐𝟓

Below is a summary of home pricing in the Palos Verdes Area compared to this time last year. (You can see more details in the video)

Palos Verdes Estates -0.87%
Rancho Palos Verdes -12.21%
Rolling Hills +8.96%
Rolling Hills Estates -36.09%
San Pedro -2.9%

𝗜𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗵𝗮𝘃𝗲 𝗮 𝗳𝗿𝗶𝗲𝗻𝗱 𝗼𝗿 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗺𝗼𝘃𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗦𝗼𝘂𝘁𝗵 𝗕𝗮𝘆, 𝗼𝗿 𝗷𝘂𝘀𝘁 𝘄𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲 𝘄𝗼𝗿𝘁𝗵 𝗽𝗹𝗲𝗮𝘀𝗲 𝗴𝗶𝘃𝗲 𝗺𝗲 𝗮 𝗰𝗮𝗹𝗹.

09/11/2025

𝐒𝐨𝐮𝐭𝐡 𝐁𝐚𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 – 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟎𝟐𝟓

Interest Rates have been slowly coming down so be sure to keep an eye out what’s happening with 10yr Treasury Rates. Any changes there have a direct impact on mortgage rates.

Below is a summary of home pricing in the Beach Cities compared to this time last year.
(You can see more details in the video)

Redondo Beach +16.13%

Manhattan Beach +61.84%

Hermosa Beach -6.65%

Torrance 0.%

Hollywood Riviera -29.39%

El Segundo + 33.47

𝗜𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗹𝗲𝗮𝗿𝗻 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗵𝗮𝘃𝗲 𝗮 𝗳r𝗶𝗲𝗻𝗱 𝗼𝗿 𝗿𝗲𝗹𝗮𝘁𝗶𝘃𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗺𝗼𝘃𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗦𝗼𝘂𝘁𝗵 𝗕𝗮𝘆, 𝗼𝗿 𝗷𝘂𝘀𝘁 𝘄𝗼𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗺𝗶𝗴𝗵𝘁 𝗯𝗲 𝘄𝗼𝗿𝘁𝗵 𝗽𝗹𝗲𝗮𝘀𝗲 𝗴𝗶𝘃𝗲 𝗺𝗲 𝗮 𝗰𝗮𝗹𝗹.

06/29/2025

Open House Back today Sunday by popular demand 2pm to 4pm!

231 23rd Street, Manhattan Beach

It’s the weekend, and what better way to spend it than by touring a stunning home just steps from the sand!

Join me today from 2 PM to 4 PM at 231 23rd Street in the heart of Manhattan Beach’s coveted Sand Section. This beautiful 4-bedroom, 3-bathroom coastal home offers unobstructed ocean views, sea breezes, and a lifestyle just a short stroll from downtown, top-rated restaurants, and award-winning schools.

The top floor features a sunlit living room with sweeping ocean vistas and two spacious bedrooms. The main level includes a bright, open kitchen and an additional bedroom with full bath. Downstairs, discover a 4th bedroom with full bath and private entrance—perfect for guests or a potential ADU conversion.

Don’t miss your chance to view the most affordable single-family home in the Manhattan Beach Sand Section!

Stop by today, say hello, and picture your life by the beach.