San Pedro Real Estate Defined
-by Mike Harper & Peter Hazdovac
In this month’s column we’ll examine the areas that make up and define our local real estate market in San Pedro.
Our local Multiple Listing Service (MLS) is considered the lifeblood of the real estate business and the primary tool for which real estate brokers use to establish contractual offers of compensation (among brokers). This is also how property information, including prices, is accumulated and disseminated.
The MLS categorizes by cities. Within each city there are sub areas, which have corresponding numbers. For example, San Pedro is comprised of the following nine areas: 179 – South Shores, 180 – Palisades, 181 – Point Fermin, 183 – Vista Del Oro, 185 – Plaza, 186 – Miraleste Pines, 187 – Holy Trinity, 189 – Barton Hill, and 193 – San Pedro North. Let’s take a look at the top areas in San Pedro, by price and number of homes sold, since the beginning of 2018 and historically speaking:
South Shores is the coastal area located just west of Western Ave. It’s known for cool ocean breezes and magnificent Catalina views. For many locals it is known as “Pneumonia Hill” due to its cooler weather patterns. Through the first six months of 2018 there were a total of 15 single-family residences sold with an average sales price of $957,000. The average home size (based on these sales) was 4 beds, 3 baths and 2,234 sf. of living space.
Miraleste Pines, which consists of established neighborhoods and a generally warmer climate than that of our coastal San Pedro areas, is located above Western Ave. and situated toward the center of town. Through the first six months of 2018 there were a total of 13 single-family residences sold with an average sales price of $779,000. The average home size (based on these sales) was 3 beds, 2 baths and 1,790 sf. of living space.
San Pedro – North is the furthest inland area located below Western Ave. and is generally considered the warmest climate in San Pedro. It’s comprised of neighborhoods with a number of larger condominium and townhouse developments. Through the first six months of 2018 there were a total of 15 single-family residences sold with an average sales price of $762,000. The average home size (based on these sales) was 4 beds, 3 baths and 2.029 sf. of living space.
Palisades is the coastal area to the south of South Shores. This area is known for its wonderful ocean views, mild climate and peacock population. Through the first six months of 2018 there were a total of 18 single-family residences sold with an average sales price of $734,000. The average home size (based on these sales) was 3 beds, 2 baths and 1,265 sf. of living space.
Point Fermin is located to the south of the Palisades and known for its laid-back beach living, quaint homes and split lots. Through the first six months of 2018 there were a total of 17 single-family residences sold with an average sales price of $728,000. The average home size (based on these sales) was 3 beds, 2 baths and 1,638 sf. of living space.
Vista Del Oro is located to the north of Palisades and just below Western Ave. It’s known for the beauty of historic Averill Park, and some outstanding architectural gems (i.e. Old Spanish, Mid-Century Modern, Craftsman, etc). There is also zoning that allows for multi-family dwellings so you have neighborhoods mixed with rental units and single-family homes. Through the first six months of 2018 there were 48 single-family residences sold with an average sales price of $711,000. The average home size (based on these sales) was 3 beds, 2 baths and 1,659 sf. of living space.
Holy Trinity, located to the east of Miraleste Pines and below Western Ave., is one of the oldest working-class areas in San Pedro. It is named after the splendor of Holy Trinity Catholic Church, which was built around 1927. Through the first six months of 2018 there were 27 single-family residences sold with an average sales price of $559,000. The average home size (based on these sales) was 3 beds, 2 baths and 1,267 sf. of living space.
Thank you for taking the time to read this breakdown of San Pedro real estate from our prospective!