While we’re optimistic that we’ll start seeing the number of homes for sale in Hawthorne CA start to rise, the recent developements with Covid 19 and Corona virus will probably keep that from happening anytime soon. Here’s a chart showing the number of active homes for sale in Hawthorne each month, the number of homes that went into escrow and the the number of closed home sales that month. It’s pretty challenging not to see the trend with the number of active listings going down every month. March was showing a turn around prior to the newest challenges. See all of our Hawthorne CA real estate trends and statistics.
Given the craziness of the world at the moment it’s certainly no surprise that real estate and home sales in Hawthorne have definitely slowed down. As of 3/26 there are 26 active listings in Hawthorne with 2 being in Fusion South Bay, none in the gated community of 360 South Bay and 6 total in the Hollyglen/Del Aire neighborhoods. The average list price is $710,651 and the average price per foot (which isn’t overly relevant given the differences in locations) is $533 per foot. Median days on market is 38.
Currently there are 28 pending home sales. Since March 1 there have been 20 closed home sales at an average sales prices of $710,600.
Interestingly enough sales in Three Sixty South Bay, one of the most popular communities in Hawthorne, have definitely not followed that trend. Of the last two listings to hit the market….one lasted 2 days and the other 4 days before entering escrow.
February was a very slow month for closed home sales in Hawthorne CA with only 17 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December which is almost always the slowest month of the year.
Prices were very impressive as they’ve been over the past 18 months with the median list prices of $729,000 and a median sales price of $749,000. When the sales price is higher than the list price you know it is a challenging market for home buyers.
Average price per foot for sold homes in Hawthorne was $525. Median days on market was only 10 which is pretty incredible and another indication of a strong sellers market. 3 of the home sales were in Three Sixty South Bay
February 2020 Home Sales and Prices in Hawthorne CA
|MLS #||Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year||Sold Date|
|SB20040689||SFR/D||5015 W||131st ST||$560,000||$673.08||2/1,0,0,0||832/A||1947/ASR||2/25/2020|
|SR19260173||SFR/D||4922 W||137th ST||$828,000||$621.62||3/2,0,0,0||1332/A||1951/ASR||2/4/2020|
|OC19284490||TWNHS/A||12824||City DR #102||$832,000||$569.86||2/3,0,0,0||1460/A||2013/BLD||2/4/2020|
|SB20009230||SFR/D||5034 W||125th ST||$850,000||$607.14||3/2,0,0,0||1400/S||1944/PUB||2/18/2020|
|SB19284705||CONDO/A||12917||Central AVE #402||$860,000||$589.04||2/2,0,0,0||1460/A||2011/ASR||2/14/2020|
|20543976||SFR||5257 W||123RD PL||$1,305,000||$572.87||4/3,0,0,0||2278/||2009||2/24/2020|
|IN19271172||SFR/D||3900 W||119th ST||$599,995||$490.99||3/3,0,0,0||1222/A||1952/ASR||2/20/2020|
|SB20007625||SFR/D||4760 W||123rd ST||$850,000||$317.88||8/4,0,0,0||2674/A||1957/PUB||2/19/2020|
|SB20005578||SFR/D||4750 W||142nd ST||$685,000||$507.03||3/2,0,0,0||1351/A||1951/ASR||2/26/2020|
|SB19279601||SFR/D||4530 W||134th ST||$790,000||$584.32||3/2,0,0,0||1352/A||1954/ASR||2/4/2020|
|19460862||SFR||2508 W||115TH PL||$480,000||$369.80||3/2,0,0,0||1298/||1954||2/21/2020|
|RS18150895||SFR/D||4457 W||120th ST||$635,000||$428.19||3/1,0,0,0||1483/A||1923/ASR||2/28/2020|
|SW20027123||SFR/D||3925 W||149th ST||$633,000||$452.14||3/1,0,0,0||1400/A||1952/ASR||2/27/2020|
By the Number – Real Estate Stats for Hawthorne CA
The 1031 Tax Deferred Exchange is one of the last tax shelters allowed by the Internal Revenue Service. It is a transaction in which a taxpayer exchanges investment property for like- kind investment property, and defers the payment of capital gain taxes. The IRS defines like-kind property as all real property held for investment purposes, or the productive use in a trade or business. This basically includes any real estate held for investment except your primary residence and second family home.
There are some important rules which must be followed to effectuate a valid exchange:
- The exchange must be opened before the close of Escrow on the relinquished (sale) property.
- The taxpayer must identify the replacement (acquired) property within 45 days after the close of the relinquished(sale)property.
- The taxpayer must close Escrow on the replacement property within 180 days from the close of the relinquished property, or, before the date the tax return filing is due for the tax year in which the relinquished property was transferred – whichever comes first.
- The taxpayer must reinvest all net proceeds into the replacement property.
- The taxpayer must obtain a debt of equal or greater amounton the replacement property.
By following these rules, the taxpayer shelters capital gains tax into the replacement property,and defers the recapture of depreciation tax. This creates more buying power for the taxpayer than if the capital gains tax was paid. Also, by deferring the payment of capital gains tax, the taxpayer gets to invest the taxes into the replacement property interest free from the IRS. The 1031 Tax Deferred Exchange also avoids the California Withholding Tax.
January was a fairly steady month for real estate in Hawthorne CA. There were 14 on market home sales during the month. The median list price was $764,450 with the median sales price of $762,500 indicating a market very favorable for sellers. The median price per foot was $480.48 and homes averaged 50 days on market before selling. 4 of the home sales were located in the gated community of Three Sixty South Bay and as is usually the case, one of the 360 home sales set the highest price for the month. A 3 bedroom “Terrace” home sold for $1,125,000. View the current homes for sale in Hawthorne as well as the available homes in 360 South Bay.
January 2020 Hawthorne CA Home Sales & Prices.
|Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year||Sold Date|
|SFR||5008 W||136TH ST||$805,000||$701.83||2/2,0,0,0||1147/||1947||1/9/2020|
|SFR/D||5252 W||126th ST||$824,000||$602.34||3/2,0,0,0||1368/A||1950/ASR||1/16/2020|
|SFR/D||4908 W||121st ST||$720,000||$550.88||3/2,0,0,0||1307/A||1947/PUB||1/17/2020|
|SFR/D||4519 W||138th ST||$715,000||$485.73||4/2,0,0,0||1472/A||1952/ASR||1/17/2020|
|SFR||4585 W||133RD ST||$822,000||$346.84||4/3,0,0,0||2370/||1954||1/31/2020|
|SFR/D||3824 W||118th PL||$436,000||$509.35||2/1,0,0,0||856/A||1947/ASR||1/7/2020|
|SFR/D||11515 S||Haas AVE S||$515,000||$311.18||4/2,0,1,0||1655/A||1954/PUB||1/17/2020|
|TWNHS/A||14539||Cerise AVE #15||$510,000||$291.60||3/2,0,1,0||1749/A||1981/ASR||1/31/2020|
The home sales in the gated community of Three Sixty at South Bay once again drove the market and prices for real estate in Hawthorne CA. There were 43 on market home sales in 360 with a median home price of over $100,000 more than the rest of Hawthorne. View the current homes for sale in 360 South Bay or learn more about this newer construction gated community.
2019 Home Sales in Three Sixty South Bay
|Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Date Sold|
|TWNHS/A||13023||Union AVE #106||$897,000||$550||2/2,0,1,0||1630/B||1/18/2019|
|TWNHS/A||12913||Mission AVE #105||$874,000||$571||2/2,0,1,0||1530/A||2/26/2019|
|CONDO/A||13022||Central AVE #203||$765,000||$571||2/2,0,0,0||1340/A||3/4/2019|
|CONDO/A||13029||Central AVE #303||$779,000||$577||2/2,0,0,0||1350/A||3/29/2019|
|CONDO||5550||Boardwalk DR #105||$635,000||$553||1/1,0,1,0||1149/SEE||6/25/2019|
|CONDO/A||13024||Union AVE #403||$690,000||$595||1/1,0,1,0||1160/A||7/24/2019|
|TWNHS/A||13123||Park PL #105||$780,000||$605||2/2,0,1,0||1290/A||9/5/2019|
|CONDO/A||13032||Union AVE #303||$758,000||$530||2/2,0,0,0||1429/B||9/6/2019|
|TWNHS/A||5554||Coral DR #108||$1,030,000||$498||4/4,0,0,0||2070/A||9/9/2019|
|CONDO/A||13022||Central AVE #403||$690,000||$522||1/1,0,1,0||1323/B||9/17/2019|
|CONDO/A||13022||Central AVE #402||$850,000||$549||2/2,0,0,0||1548/P||9/25/2019|
|TWNHS/A||5553||Coral DR #105||$875,000||$537||2/3,0,0,0||1630/B||10/10/2019|
|CONDO||13021||CENTRAL AVE #202||$789,000||$477||2/2,0,0,0||1654/B||10/18/2019|
|CONDO/A||12915||Park Place AVE #302||$810,000||$523||2/2,0,0,0||1550/P||10/25/2019|
|CONDO/A||13022||Central AVE #304||$789,000||$503||2/2,0,0,0||1570/A||11/25/2019|
|TWNHS/A||5360||Pacific Terrace #102||$1,225,000||$449||3/3,0,1,0||2730/A||12/4/2019|