“The Market keeps chugging along.“
San Pedro Market Overview
In October, the median list price for San Pedro is $1,196,500, with the Market Action Index (MAI) at 43. This indicates a continued slight seller’s advantage, but largely unchanged when compared to September. Inventory saw a slight decrease, currently at around 59 homes.
Sold Stats
29 homes sold in San Pedro in October:
Market Action Index
The MAI remains in seller’s territory at 43, indicating moderate competition among buyers. While the market hasn’t seen a dramatic swing, the consistent reading near mid-40s signals that sellers still have an edge—though it’s far from the highly competitive levels seen in past years.
Inventory Trends
Inventory has been flat, but fell slightly in October to 59 active homes. This stability means buyers aren’t seeing a sudden flood of new options, but sellers aren’t facing a big surge in competition either. Balanced inventory has kept the market moving at a steady pace, without a dramatic tilt in either direction.
Median List Price
The median list price of $1.18M reflects slight upward momentum compared to earlier in the year. Interestingly, the median price of new listings is much lower, at $750K, suggesting that some sellers entering the market are pricing more aggressively to attract attention. This mix of higher overall pricing and more competitive new listings highlights the importance of strategic pricing.
Days on Market (DOM)
Homes in San Pedro are moving at a solid pace, with the median DOM at 56 days and the average DOM at 77 days, which are slighly higher than last month. This indicates that while well-priced, desirable homes are selling within a little over a month, other listings are lingering for closer to two months, though figures are slightly more than last month. Sellers who come to market aligned with comps are seeing faster activity.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
Price Reductions & Increases
- 34% of homes have experienced price reductions.
- 2% of listings have reported increases.
- 8% of homes have been relisted.
The reduction rate shows that even in a slight seller’s market, buyers are pushing back on overpricing. Sellers who test the market with higher numbers often need to adjust to spark offers.
Bottom Line
San Pedro continues to lean in favor of sellers, but steady inventory, strategic pricing by new listings, and the prevalence of reductions all point to a market where buyers have influence. Sellers still hold the advantage, but success depends on realistic pricing and smart presentation.
Who is The Prestige Team?
Rancho Palos Verdes Realtor Broker Associate Karen Anderson, along with her Real Estate Team, The Prestige Team, has been selling residential real estate in the South Bay, including Rancho Palos Verdes, San Pedro, and far beyond LA County, for over 27 years and is ranked in the top 1% of realtors in Rancho Palos Verdes. We specialize in transforming homes into impeccably presented real estate listings that command top dollar in the shortest amount of time!
Learn more about us below!
