Palos Verdes Homes 2018 Neighborhood Sales First Half

Palos Verdes Homes 2018 Neighborhood Sales First Half

Palos Verdes homes sales by neighborhood first half 2018

In my article last week,  I discussed the overall sales numbers for single family Palos Verdes homes sold in the first half of 2018 with the number of homes sold (with 340 in 2018, from 350 in 2017), an increase in the average sales price (4.9%), and an increase in the average price per square foot (3.5%).  There was a high demand for Palos Verdes homes and multiple offers were common.  Below is information on specific Palos Verdes neighborhoods.  The chart above can be enlarged by clicking on it or go to the “Statistics” tab above.

The Malaga Cove area of Palos Verdes Estates posted the largest gain in average sales price for Palos Verdes homes – $3,417,375 for the first half of 2018 compared to $2,162,467 in the first half of 2017 for a 58% gain, followed by Palos Verdes Drive South (34.8%) and West Palos Verdes (13.4%).  Palos Verdes Drive North, Valmonte, Rolling Hills, Palos Verdes Drive East, Mira Catalina, Palos Verdes Country Club, Peninsula Center, Silver Spur, and Eastview/RPV also showed gains in average sales price the first half of 2018.  Lunada Bay area of Palos Verdes Estates posted the largest decrease in average sales price – $2,206,640 in the first half of 2018 compared to $2,551,939 in 2017 (-13.5%).

All neighborhoods, except Lunada Bay & Rolling Hills posted gains in average square foot price in the first half of 2018.  Palos Verdes Drive South and Malaga Cove posted the largest gains in average square foot price for Palos Verdes homes sold – a 48.4% and 23.6% increase respectively.  West Palos Verdes increased to $770 in 2018 from $699 the first half of 2017 and Silver Spur  increased to $684 in 2018 from $621 the first half of 2017.  Square footage price in Rolling Hills posted the largest decrease (15.4%) – $664 in 2018 from $786 the first half of 2017.

Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in the first half of 2018 – 39 Palos Verdes houses.  La Cresta posted the biggest gain in home sales – 20 homes in the first half of 2018 compared to 14 homes in 2017.  Valmonte, Rolling Hills, Palos Verdes Drive East, Palos Verdes Drive South, West Palos Verdes, Country Club, La Cresta, and Peninsula Center also had an increase in the number of Palos Verdes homes sold the first half of 2018.

First half of 2018 information on average price for Palos Verdes homes sold as well as total valuation of Palos Verdes real estate and highest/lowest home sales can be obtained by clicking here or going to my prior post, “Palos Verdes Homes Prices Up First Half 2018.”

Chart courtesy of RE/MAX Estate Properties

South Coast Botanic Garden August 2018 Events!

South Coast Botanic Garden August 2018 Events!

South Coast Botanic Garden is inviting all Palos Verdes homes owners to enjoy some outdoor fun.  In addition to the monthly classes that are available, August will be bring some unique activities to enjoy.

On Saturday, August 4, 2018, from 10:00 to 11:00 a.m., you can “chill out” and step onto the mat with new instructor, Veronica, for refreshing and revitalizing mornings.  With vinyasa flow yoga greet the sun through breath exploration, mindful movement and strength-building stretches. T his is a great time to let the Garden landscape be your inspiration for this life-giving and sustainable practice.  Open to all levels. Beginners welcome.  Bring a mat.

On Saturday, August 25, 2018, from 2:00 p.m. to 4:30 p.m., de-stress with a relaxing afternoon surrounded by calming nature.  Led by certified integrative wellness life coach Elizabeth Simone, you’ll journey through your five senses, create a personal mandala meditation stone, experience a walking labyrinth, practice breathing and grounding exercises all while enjoying a complimentary glass of wine and afternoon nibbles.  The cost of this special event is $59/members, $65 for non members.  The fee includes all-day tram access.

On Saturday, August 25, 2018, the Begonia Society will be holding their annual Begonia Show at the Gardens from 9:00 a.m. to 5:00 p.m. and is free with Garden admission (the location is the Frances Young Hall).  Begonias are among a favorite among gardeners and horticulturalists.  They are found in rain forests and prefer a semi-shady location.  Begonias do very well in Southern California.  They are especially attractive in pots but also thrive planted in the garden.  No registration required.  You will be able to see the many beautiful and unusual Begonias exhibited by members.  There are always plants on sale to take home for your own garden.

For more information on any of the above activities go to www.southcoastbotanicgarden.org.  The Garden is located at 26300 Crenshaw Blvd, Palos Verdes Peninsula.

To read my prior article on South Coast Botanic Garden click here.

Photo courtesy of the South Coast Botanic Garden.

Palos Verdes Joins 2018 National Night Out Celebration!

Palos Verdes Joins 2018 National Night Out Celebration!

Palos Verdes homes owners know that the safety of our community depends on both law enforcement and citizen participation.  Residents are encouraged to participate in the National Night Out program, which is America’s Night Out Against Crime.  This event is held in all 50 states and every U.S. military base.  In Palos Verdes Estates, the event will be held in neighborhoods around the City on Tuesday, August 7, 2018, from 5:30 p.m. to 8:00 p.m.

On the Palos Verdes Peninsula, there will be several locations which will host large parties where area groups can gather and neighbors can get to know one another.  Your block captain will be emailing you with the location of your event.  Some of the block parties include cookouts, ice cream socials and other family fun.  One of the many highlights of the evening is the participation by the Mayor and City Council in a caravan which will visit participating neighborhoods. Police personnel, firefighters, paramedics, PVE Neighborhood Watch board members and the local crime dog, Officer McGruff will take part in the caravan.

This is a great time to show your neighborhood spirit by either helping to host or attending one of the parties.  For more information, call Marcelle McCullough, Police Department Community Relations Officer, at (310) 378-4211.

To read my last article on National Night Out please click here.

Photo courtesy of the Palos Verdes Estates Police Department

Favorite Palos Verdes Homes – July 17, 2018

Favorite Palos Verdes Homes – July 17, 2018

My favorite Palos Verdes Homes on the July 17, 2018, Palos Verdes real estate Broker’s Tour (35 homes had open houses today) are described below.  We currently have 216 single family Palos Verdes homes for sale ranging in price from $1,000,000 in Rancho Palos Verdes (The low in Eastview is $779,000) to $40,000,000 in the City of Rolling Hills.  There are 29 Palos Verdes condos/townhomes for sale priced between $479,000 and $1,995,000.  My favorite Palos Verdes homes today are:

982 Paseo La Cresta, Palos Verdes Estates, CA      

Anne St. Cyr & Rick Edler’s (Vista Sotheby’s Int’l Realty) 982 Paseo La Cresta, Palos Verdes Estates, 90274 (above left) is a 5 bedroom, 5 bath, 4,482 square foot home for $6,499,000.  This stunning Monte Malaga rustic Spanish home features spectacular ocean views, welcoming kitchen w/circular center island, gorgeous rustic wood beams, family room plus bonus loft and lovely mature landscaping.  Steven Watts’ (RE/MAX Estate Properties) 701 Via La Cuesta, Palos Verdes Estates, 90274 (above right) is a 6 bedroom, 6 bath, 6,915 square foot home for $5,899,000.  This magnificent Malaga Cove Hacienda style home features Queen’s necklace/golf course views, gourmet kitchen w/Godin cooktop, game room, orchard, koi pond & pool/spa.

       

Alexa Hoyt & Marge Rankin’s (Keller Williams Palos Verdes) 10 Crestwind Drive, Rancho Palos Verdes, 90275 (above left) is a 4 bedroom, 4 bath, 3,513 square foot home for $2,295,000.  This remodeled Del Cerro home features a remodeled kitchen w/great room, private large master suite, remodeled baths and serene grassy backyard with pool/jacuzzi.  Patricia Hedstrom’s (RE/MAX Estate Properties) 6914 Brookford Drive, Rancho Palos Verdes, 90275 (above right) is a 3 bedroom, 2 bath, 2,130 square foot home for $1,399,000.  This  extensively redesigned/remodeled gated contemporary Los Verdes home features ocean/Catalina views, an open concept gourmet kitchen and luxurious master suite.

To read my prior article on favorite Palos Verdes homes click here.

Photos courtesy of CRMLS.

Palos Verdes Supports 2018 “The Hills Are Alive” Race

Palos Verdes Supports 2018 “The Hills Are Alive” Race

hills r alive 2014

Palos Verdes home owners will be supporting our local “The Hills Are Alive Race” which benefits Rolling Hills Estates’ Pepper Tree Foundation.  This race is considered to be one of the oldest and finest trail races in Southern California.  The Pepper Tree Foundation was established in 1982 to promote citizen contributions and donations to enrich the quality of  life in Rolling Hills Estates.  The foundation has provided trees, benches, picnic tables and other items which enhance and preserve the city parks and open spaces.  This year the Pepper Tree Foundation will partner with UCLA Health, and this 37th annual race will take place on Saturday, August 11, 2018, beginning at 8:00 a.m.

Participants will enjoy running or walking on the soft packed bridle trails throughout scenic Rolling Hills Estates.  The race starts & finishes at Ernie Howlett Park located at 25851 Hawthorne Blvd, Rolling Hills Estates. Again this year,  the Botanic Garden Loop Trail will be included in the 10K race course. T here will be Award Plaques presented to the top male and female finishers in the 10K Run and 5K Runs.  All finishers will receive a custom designed finishers medal.

The registration fee for the event is $35 for advance sign up, which can be dropped off or mailed to City of Rolling Hills Estates, 4045 Palos Verdes Dr North, Rolling Hills Estates, CA. 90274.  Checks should be payable to RHE Pepper Tree Foundation and must be received by August 10, 2018.  The City offices are open Monday through Thursday 7:30 a.m. to 5:30 p.m.  For late registration, the cost will be $40 and sign ups begin at 7:00 a.m. on race day at Ernie Howlett Park.  Pick up for race packets will be on Friday, August 10, 2018, from 10:00 a.m. to 6:00 p.m at Village Runner located at 1811 A Catalina Avenue, Redondo Beach.  The race package includes a free tee shirt, a map of local horse and hiking trails, sponsor refreshments and goodie bags.  No strollers or dogs allowed on the race course.

For questions about the race, or to purchase tickets call (310) 377-1577 or click here.

To view my previous article on “The Hills Are Alive Race” click here.

Photo courtesy of the City of Rolling Hills Estates.

Palos Verdes Hikes & Trails Events August 2018

Palos Verdes Hikes & Trails Events August 2018

During the month of August 2018, the Palos Verdes Peninsula Land Conservancy is offering outdoor hikes/activities for Palos Verdes home owners to enjoy including bird walks, nature walks with naturalists, nocturnal full moon walk and volunteer opportunities which are listed below.

Special Events: 

Pints for the Peninsula at Smog City Brewery with the Palos Verdes Peninsula Land Conservancy.  Every Thursday in August from 3:00 p.m. to 10:00 p.m., enjoy hand crafted local beer and support the Conservancy at the same time. The brewery is located at 1901 Del Amo Blvd., Torrance.

Guided Nature Walk by Palos Verdes Land Conservancy will take place at Friendship Park, on Saturday, August 11, 2018, at 9:00 a.m.  This walk will take in some of the best harbor and Catalina views on the eastern side of the Peninsula.  You will see Palos Verdes blue butterfly habitat restored by the Conservancy.  Drive up to the parking lot entrance near the corner of Western and 9th Street.  Friendship Park is located at 1850 W. 9th Street, San Pedro.  For more information call (310) 541-7613 ext. 201, or sign up at www.pvplc.org/events/NatureWalkRSVP.asp.

Trail Crew Training will take place on Saturday, August 11, 2018, from 9:00 a.m. to 12:00 p.m.  This is a one day training event to learn techniques for trail assessment and erosion repair.  Sign up at www.pvplc.volunteerhub.com.

Full Moon Hike at George F Canyon Nature Preserve will take place on Friday, August 24, 2018, at 8:30 p.m.  Advance reservations are required to join one of these guided night walks.  The group is limited to 20 people and ages 9 and up are welcome.  The price for the event is $12 per person.  For more information and to RSVP go to www.pvplc.org,Events & Activities.

4th Saturday Education Workshop, “Amazing Honeybees at the White Point Nature Center & Preserve” will take place on Saturday, August 25, 2018, at 11:00 a.m.  You will celebrate National Honeybee Day with award winning writer, Aimee Lissantheia, author of The Amazing Adventures of Melissa B.  This event is free and will take place at White Point Nature Center, 1600 W. Paseo del Mar, San Pedro.  For more information, call (310) 541-7613 ext 201, or sign up at www.pvplc.org,Events & Activities.

Monthly Activities

The 1st Saturday Family Hike at George F Canyon will take place on Saturday, August 4, 2018, from 10:00 a.m. to 11:00 a.m.  Bring the children for an easy, educational hike in this beautiful canyon preserve.  Each month the naturalist will focus on a different aspect of the native habitat and wildlife that thrive here.  This is free and open to the public and all ages are welcome.  The preserve is located at 27305 Palos Verdes Drive East, Rolling Hills Estates.  For more information call (310) 547-0862 or RSVP at www.pvplc.org, Events & Activities. 

The 2nd Saturday Family Science & Storytime will take place at George F Canyon on Saturday, August 11, 2018, from 10:00 a.m. to 11:00 a.m.   Gather up the children and join the nature center for a hands on science experience about one of the unique animal species that make this canyon their home.  This is a free event.  The preserve is located at 27305 Palos Verdes Drive East, Rolling Hills Estates.  For more information call (310) 547-0862 or RSVP at www.pvplc.org, Events & Activities. 

The 2nd Saturday Family Storytime at White Point Nature Education Center will take place on Saturday, August 11, 2018, from 10:00 a.m. to 11:00 a.m.  You will share the joy of storytelling with your children and introduce them to the beauty of the natural surroundings.  Your family will enjoy spending time with retired Children’s Librarian, Carla Sedlacek, for stories and activities featuring nature themes, exciting props and songs.  This event is free.  White Point Education Center is located at 1600 W. Paseo del Mar in San Pedro.  RSVP at www.pvplc.org, Events & Activities.

The 3rd Wednesday Wild Bird Walk at White Point Nature Preserve will take place on Wednesday, August 15, 2018, at 8:30 a.m.  Observe the birds now making a home in the restored habitat at the Preserve.  Binoculars will be supplied for beginners.  The program is free and open to the public.  All ages are welcome.  White Point Nature Education Center is located at 1600 West Paseo del Mar in San Pedro.  RSVP at  www.pvplc.org,Events & Activities.

The 3rd Saturday Family Nature Walk at the White Point Nature Preserve will take place on Saturday, August 18, 2018, at 9:00 a.m.  The naturalist led nature walk includes a visit to the Tongva Native Plant Gardens, where you will learn how early inhabitants of the Peninsula used native plant species for thousands of years.  Then walk the Preserve’s paths among exquisitely restored coastal sage scrub habitat.  You will stop at a former gun emplacement to learn about the military history of the area.  The walk concludes with a visit to the wonderful Nature Education Center for all ages.  This is considered a moderate walk.  The White Point Nature Preserve is located at 1600 W. Paseo del Mar in San Pedro.  Meet at the information kiosk between parking lot and Nature Center.  For more information call (310) 541-7613 or RSVP at www.pvplc.volunteerhub.com.

The 4th Wednesday Wild Bird Walk at George F Canyon will take place on Wednesday, August 22, 2018, at 8:30 a.m.  Observe the birds in nesting season making a home in the canyon.  The program is free and all ages are welcome.  Parking is available at the Center which is located at 27305 Palos Verdes Drive East, Rolling Hills Estates.  For more information call (310) 547-0862 or RSVP at www.pvplc.org,Events & Activities.

Native Plant Sale at White Point Nature Preserve will take place on Saturday, August 25, 2018, from 12:00 noon to 2:00 p.m.  Plants are sold on a first come, first served basis.  White Point Nature Preserve is located at 1600 W. Paseo del Mar in San Pedro.  For more information call (310) 541-7613.

Native Plant Sale at George F. Canyon Nature Center will take place on Saturday, August 25, 2018, from 10:00 a.m. to 12:00 p.m.  Plants sold on a first come, first served basis.  George F Canyon Center is located at 27305 Palos Verdes Drive east, Rolling Hills Estates, 90274.  For more information contact (M-F) 310-541-7613 or (S-S) 310-547-0862.

Volunteer Opportunities:

Outdoor Volunteer Days at Alta Vicente Reserve will take place on Saturday,  August 4, 2018, and August 11, 2018, from 9:00 a.m. to 12:00 noon.  Help restore this unique canyon habitat home to many threatened and endangered wildlife species.  Sign up at www.pvplc.volunteer.com.

Outdoor Volunteer Day at White Point Nature Preserve will take place on Saturday, August 18, 2018, from 9:00 a.m. to 12:00 noon.   You will help beautify the native demonstration garden and surrounding habitat.  Sign up at www.pvplc.volunteerhub.com.

3rd Saturdays Family Volunteer Day at George F Canyon Preserve by the Palos Verdes Peninsula Land Conservancy will take place on August 18, 2018, from 10:00 to 11:00 a.m.  This is an opportunity to put on your comfortable gardening clothes and take part in a kid friendly habitat restoration activity: plant seeds, care for native plants, and track wildlife.  Children of all ages will begin to understand the role that they can play in nature conservation.  This event is free.  Sign up at www.pvplc.volunteerhub.com.

Outdoor Volunteer Days at Native Plant Nursery will also take place on Monday through Friday at 9:00 a.m.  You will nurture seedlings to grow shrubs for habitat restoration projects.  Must RSVP at least 48 hours in advance.  Sign up at www.pvplc.volunteerhub.com.

To read my prior article on the Palos Verdes Peninsula Land Conservancy, click here.

Photo courtesy of Palos Verdes Peninsula Land Conservancy.

Palos Verdes Homes Prices Up First Half 2018

Palos Verdes Homes Prices Up First Half 2018

Photo of Palos Verdes gatehouse courtesy of Arvin Design

Palos Verdes real estate prices increased for the first half of 2018 with increases in average price per square foot and average sales price.  The number of Palos Verdes homes sold in the first half of 2018 was lower than the first half of 2017 (340 compared to 350).  2018 first half average sales price for Palos Verdes homes increased compared to the first half of 2017 – $1,858,726 compared to $1,771,421.  Average price per square foot for Palos Verdes homes sold in the first half of 2018 was $656 compared to $634 for the same time period in 2017 – an increase of 3.5%.  Median sales price in the first half of 2018 increased 9.5%.

The mix of Palos Verdes homes sales for the first half of 2018 showed less sales in the $2,000,000 to $5,000,000 range, less sales under $1,000,000, and more sales over $5,000,000.  In first half of 2018, only 28 Palos Verdes homes sold under $1,000,000 which was 8.2% of sales (compared to 38 homes – 10.8% – in first half of 2017).  In the first half of 2018, 224 Palos Verdes homes sold between $1,000,000 and $2,000,000 which was 65.9% of sales (compared to 224 homes – 64% – in first half of 2017).  In first half of 2018, 80 Palos Verdes homes sold between $2,000,000 and $5,000,000 which was 23.5% of sales (compared to 85 homes – 24.3% – first half 2017).  Finally, in the first half of 2018, 8 Palos Verdes homes sold for $5,000,000+ which was 2.4% of sales (compared to 3 homes – .9% – first half 2017).

The total valuation for all single family Palos Verdes homes sold the first six months of 2018 increased from 2017 – $633,334,455 compared to $608,704,971.  In the first half of 2018, the highest priced home sold for $9,250,000 in Palos Verdes Estates and the lowest price home sold for $700,000 in Rancho Palos Verdes.  Next week, I will discuss Palos Verdes homes sales for first half 2018 for the individual Palos Verdes neighborhoods. To read my article on Palos Verdes homes sales first half 2017, click here.

Photo of Palos Verdes Gatehouse courtesy of Arvin Design

Palos Verdes Hosts Tracy Austin’s 40th Annual Tennis Tournament

Palos Verdes Hosts Tracy Austin’s 40th  Annual Tennis Tournament

Tennis players from the Palos Verdes Peninsula and South Bay are getting ready for the 40th Annual Tracy Austin Doubles Tennis Tournament, which will be held on July 20,21, & 22, 2018.  This tournament is named in honor of our own local tennis celebrity, Tracy Austin, and proceeds from the event benefit the Pepper Tree Foundation which contributes to the maintenance and development of parks, trails and open space in the Rolling Hills Estates community.

This is one of the few tennis tournaments that welcomes players in all ages and skill levels.  Competition will be in Women’s Doubles, Men’s Doubles and Mixed Doubles.  Junior players can play in any level or division of the tournament.  Classifications include Open, A, B, C, C+ and D.  Players are allowed to enter in up to two divisions.

The tournament takes place at the Rolling Hills Estates Tennis Club (located at Ernie Howlett Park) and The Jack Kramer Club.  The entry fee is $52 per team.  Entrants will receive a Tournament T-Shirt and complimentary gift bag.  There is a $2,000 cash prize fund to be divided among the top finishers in the Open Division.  Entry forms are available at the Rolling Hills Estates City Hall and local tennis clubs, or for a small fee you may register online at www.TracyAustinTennis.com.

For more information, call Bob Krueger, Tennis Pro & Tournament Director at the Rolling Hills Estates Tennis Club, at (310) 541-4585, or Andy Clark, Community Services Director at The City of Rolling Hills Estates, (310) 377-1577, ext 109.  You can also reach Andy at AndyC@RollingHillsEstatesCA.gov.

Ernie Howlett Park is located at 25851 Hawthorne Boulevard, Rolling Hills Estates, and The Jack Kramer Club is located at 11 Monticello Drive, Rolling Hills Estates.

Photo courtesy of The Tennis Club at Ernie Howlett Park.

 

Favorite Palos Verdes Homes – July 10, 2018

Favorite Palos Verdes Homes – July 10, 2018

My favorite Palos Verdes Homes on the July 10, 2018, Palos Verdes real estate Broker’s Tour (36 homes had open houses today) are described below.  We currently have 218 single family Palos Verdes homes for sale ranging in price from $998,000 in Rancho Palos Verdes (The low in Eastview is $695,000) to $40,000,000 in the City of Rolling Hills.  There are 33 Palos Verdes condos/townhomes for sale priced between $478,000 and $1,995,000.  My favorite Palos Verdes homes today are:

     

Yanjing Chu’s (Keller Williams Palos Verdes) 3355 Palo Vista Drive, Rancho Palos Verdes, 90275 (above left) is a 5 bedroom, 5 bath, 5,418 square foot home for $2,898,000.  This newly renovated Fengshui oasis is located in the Palos Verdes Drive South area and features ocean/Catalina views, bonus & entertainment rooms, basketball court and located on an acre of land.  Peter Califano’s (Califano Realty) 6333 W. Via Colinta Drive, Rancho Palos Verdes, 90275 (above right) is a 4 bedroom, 6 bath, 3,526 square foot home for $2,390,000.  This classic Spanish colonial Miraleste home features panoramic city/harbor views, amazing gourmet kitchen, ensuite bedrooms, and infinity edge pool/spa.

       

Mike McLoughlin’s (RE/MAX Estate Properties) 5296 Willow Wood Road, Rolling Hills Estates, 90274 (above left) is a 3 bedroom, 2 bath, 1,682 square foot home for $998,000.  This wonderful Silver Spur single level home features spacious family room, bright open kitchen, flat gorgeous backyard, and lots of storage space.  Wendy Sun’s (RE/MAX Estate Properties) 51 Oaktree Lane, Rolling Hills Estates, 90274 (above right) is a 3 bedroom, 3 bath, 2,184 square foot home for $969,000.  This unique end unit Terraces townhome features a remodeled kitchen, vaulted ceilings, oversized master bedroom w/2 walk in closets & remodeled bath, and 5 community pools/spas & 2 tennis courts.

To read my prior article on favorite Palos Verdes homes click here.

Photos courtesy of CRMLS.

Palos Verdes Real Estate Sales June 2018 For Palos Verdes Homes

Palos Verdes Real Estate Sales June 2018 For Palos Verdes Homes

Palos Verdes Real Estate Chart June 2018 showing active, pending, and sold Palos Verdes homes 90274 and 90275

Palos Verdes real estate sales June 2018 for Palos Verdes homes increased compared to May.  82 Palos Verdes houses sold in June compared to the 63 homes sold in May and decreased compared to the 93 homes that sold in June 2017.  There were 78 Palos Verdes single family homes pending in June which increased from the 68 homes pending in May.  The number of active Palos Verdes homes for sale in June (225) increased from the 190 homes for sale in May.

Average sales price for Palos Verdes homes sold in June increased to $2,025,000 from $1,924,000 in May and increased from the $1,739,000 in June 2017.  Price per square foot for Palos Verdes houses that sold/closed escrow in June decreased to $635 from May ($683).  Average days on market in June increased to 54 days from 37 days in May.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.7 months in June for Palos Verdes homes for sale compared to 3 months in May.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the continuing high demand for Palos Verdes homes.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 196 single family Palos Verdes homes for sale. 82 Palos Verdes houses are in escrow (45 homes have pending sales and 37 homes are under contract).  Additionally, 9 homes have sold/closed escrow in the first 9 days of July with an average sales price of $1,966,778.

To read last month’s report on Palos Verdes Real Estate sales, click here.

Chart courtesy of Trendgraphix, Inc.