The first half of 2013 has been good for Palos Verdes real estate! Malaga Cove posted the largest gain in average sales price for Palos Verdes homes – $2,255,556 for the first half of 2013 compared to $1,848,972 in the first half of 2012. Monte Malaga, Valmonte, Palos Verdes Drive East, Palos Verdes Drive South, Country Club, La Cresta, Los Verdes, Crest, Peninsula Center, Silver Spur and Eastview neighborhoods also showed gains in average sales price. West Palos Verdes posted the largest decrease in average sales price – $1,892,333 for the first half of 2013 compared to $2,662,222 in the first half of 2012.
Palos Verdes Drive South and Eastview posted the largest gains in average square foot price for Palos Verdes homes sold – a 19.2% and 20.5% increase – $536 and $405 in the first half of 2013 compared to $449 and $336 in the first half of 2012. All other Palos Verdes neighborhoods posted increases in the average square foot price except for Palos Verdes Drive West which experienced a decrease in square foot price (6.3%) from $540 in the first half of 2013 compared to $576 in the first half of 2012.
Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in the first half of 2013 – 36 houses (29 houses in the first half of 2012). Rolling Hills, Palos Verdes Drive East, Mira Catalina, Palos Verdes Drive South, West Palos Verdes, Country Club, La Cresta, Los Verdes, Crest and Eastview also had an increase in number of homes sold in the first half of 2013 compared to the same time period in 2012. Next, we will look at individual Palos Verdes neighborhood sales.
Chart courtesy of Remax Estate Properties
