Did you know that in 1913, the entire Palos Verdes Peninsula was purchased for development for $1,500,000 by a group headed by Frank Vanderlip, Sr.? That is probably the median price for one our Palos Verdes houses today! After the stock market crash in 1929, portions of the original purchase were sold off. Today, the Palos Verdes Peninsula is actually composed of 4 different cities – Palos Verdes Estates, Rancho Palos Verdes Estates, Rolling Hills, and Rolling Hills Estates (and 2 Los Angeles County areas known as Westfield and Academy Hills). All Palos Verdes homes in these four cities and 2 areas are part of the Palos Verdes Peninsula Unified School District.
Palos Verdes Estates was the first city on the Palos Verdes Peninsula to incorporate in 1939. The city has 4.5 miles of coastline. Twenty-eight per cent of the city land is permanently deeded as parkland and maintained as dedicated open space. In 2009 the US Census count was 13,546 residents for this area. The unique Mediterranean flair of Monte Malaga and Malaga Cove, and charm of Valmonte and Lunada Bay bring their own history to this area.
Rancho Palos Verdes was the last city on the Palos Verdes Peninsula to incorporate in 1973. It has 7.5 miles of coastline and 12.3 square miles of land. It is the largest city on the Peninsula. The US Census count was 40,964 in 2009.
Rolling Hills Estates was incorporated in 1957 and is the third largest city on the Palos Verdes Peninsula both in size (4.18) mi and population – 7,834 according to the 2009 census. It has a rural atmosphere and some lots are 1/2 acre (or more) and some areas are zoned equestrian. The city has six parks, 25 miles of scenic trails and 36 acres of open space. It is often called the Heart of the Peninsula because of its large shopping and entertainment areas.
Rolling Hills is a privately gated equestrian community located atop the scenic hills of the Palos Verdes Peninsula. It was in incorporated in 1957. It is the smallest city on the Peninsula and the most private; most lots are over one acre. The city has 26 miles of private roads and 23 miles of equestrian trails. It’s 2009 U.S. Census count was 1,972.
In the next few weeks I will be going over the seventeen different Multiple Listing Service areas for Palos Verdes real estate and concentrating on their locations and what makes each of them so special. You will be able to access information on current listings in these areas and the different price points.