Palos Verdes Real Estate Blog

Sales for Palos Verdes real estate single family homes in the first 21 days of May are almost exactly the same as sales to date for this time last month (37).  36 Palos Verdes houses have been reported as sold to date since May 1, 2012.  (It may take an additional week for some sales to post after the actual close of escrow).  The average sales price for single family Palos Verdes homes from May 1st to date is $1,274,569 which is down from last month’s average of $1,410,388.

In May 2012 to date, the highest priced Palos Verdes home sold for $3,350,000 in the Country Club neighborhood of Rancho Palos Verdes; this incredible 5,551 square foot 5 bedroom, 7 bath home built in 2002 has 220 degree sweeping views that include all of Catalina, the Channel Islands, Malibu and the lights of Santa Monica, a spectacular chef’s kitchen, an office/library, and 3-car garage on a 16,026 square foot lot.  The lowest priced Palos Verdes home sold to date in May for $675,000 and is located in the Palos Verdes Drive East neighborhood of Rancho Palos Verdes; this home has 2,170 square feet, 5 bedrooms and 2 baths on a 23,471 square foot lot.

We currently have 187 active single family Palos Verdes homes for sale priced between $280,000 in Rancho Palos Verdes (a 663 square foot commercial office which now is on a residential zoned lot that is 1,312 square feet) and $12,950,000 in the city of Rolling Hills (the low in Eastview is $499,000).  To view Palos Verdes real estate statistics from February 2011 through April  2012, click here or on the “Statistics” tab above.

Photo above is Fisherman’s Cove and Point Vicente, Rancho Palos Verdes

The 2012 Palos Verdes Street Fair & Music Festival will be available for all Palos Verdes homes owners to enjoy on June 9th and 10th.  The Fair will have its “Friday Teen Fun Night” opening the carnival on Friday, June 8, 2012, from 5:00 -10:00 p.m. Local  youth can purchase discount tickets through their middle school or high school for an evening of fun.  The Fair will have more than 200 arts and crafts booths, carnival rides for children of all ages, an International Food Court, a children’s petting zoo, free pony rides, train rides, and live entertainment on its two stages.  All day wristbands will be available to purchase for the carnival rides.  There will also be “Healthy Lifestyles” areas which is provided by Providence Little Company of Mary which will check blood pressure and give you healthy living tips.

Under the big tent and on the main stage will be continuous live entertainment.  There will be multiple bands showing off their talents in rock, country, jazz and pop, for example The MVP’s, Jay Edward Band, The Full Spectrum Band, 80′s After Party, Zydeco Party Band, Jimbo Ross and the Bodacious Blues Band, Ticket to Ride and many more.  On Saturday, the annual “Top Dog Show” will be held from 10:00 a.m. to 12:00 p.m. under the Big Tent.  Animal rescue and adoptions will take place on Saturday and Sunday from 10:00 a.m.– 6:00 p.m.  Grilled Cheese, Pie and Cupcake Competitions will be held on Saturday along with the Pie Eating Contest.  The Chili Cook-off will be held on Sunday.

For more information contact the Palos Verdes Peninsula Chamber of Commerce at (310) 377-8111, or visit them at www.pvstreetfair.com.  The Fair is located at Crossfield Road between Silver Spur Road and Indian Peak Road in Rolling Hills Estates 90274.  The Fair hours are Saturday, June 9, 10:00 – 10:00 p.m. and Sunday, June 10, 10:00 – 9:00 p.m.  Parking is available at the Promenade parking structure at Drybank Drive and Silver Spur Road.  There will be also parking at Palos Verdes Peninsula High School.

Photo courtesy of the Palos Verdes Street Fair

2011 Palos Verdes home sales for the La Cresta neighborhood decreased to 20 single family homes sold compared to 28 sold in 2010 -  a 29% decrease. Price per square foot for La Cresta houses that sold in 2011 was $447 compared to $489 in 2010.  However, average sales price for the La Cresta homes sold in 2011 was $1,737,289 compared to $1,796,714 – a slight decrease.

Currently, there are 9 single family homes for sale.  There is one Palos Verdes townhouse for sale – a 3 bedroom, 3 bath, 2,172 square foot unit for $679,900.  There are 8 Palos Verdes homes for sale ranging from $1,310,000 for a 4 bedroom/5 bath, 4,578 square foot single family residence to $2,799,000 for a 5 bedroom/7 bath, 4,260 square foot single family residence.

For background and history on La Cresta Multiple Listing Area #172, please click here to read my prior article on this neighborhood.

To view current Palos Verdes real estate statistics for the entire Peninsula, please click here or on the “Statistics” tab above.

Del Cerro Park (photo above) is located in the La Cresta neighborhood

Palos Verdes homes owners seem to have it all here on the Peninsula.  We have beautiful ocean views, lots of green hillsides and many miles of public trails for our enjoyment.

The City of Rancho Palos Verdes Newsletter Spring 2012 Edition contained an article regarding the” Hidden Gems” located here that made up of hidden trails and pocket parks that are being constantly maintained.  While most of us are familiar with our larger city parks such as Hesse Park, the Point Vicente Interpretive Center and our large preserves, many of us do not realize that there are areas located within the city that are owned and maintained by the Miraleste Recreation and Parks District which is an independent special district.  This District was formed in 1940 before the City was incorporated when the Palos Verdes Homes Association deeded 60 acres to the District for park and recreational purposes.  Most of the area consists of canyons behind the homes in the Miraleste area of the city and other adjacent hilly terrain.  The goal was to beautify and improve the Miraleste community, provide more park and recreational areas and develop trails that run through the canyons. The trails are hidden from view, but can be accessed from most neighborhood streets and public roads.  These trails are only intended to be used as hiking trails and most of them are moderate in difficulty.  Here are a list of some of the pocket parks:

Frog Pond Park (near the intersection of Palos Verdes Drive East & Via Colinita), Harter Park (near the intersection of Via Colinita & Via La Paloma), Miltenberger Park (near the intersection of Mialeste Drive & Via Colinita), Canada Park (near the terminus of Via Canada), Colinita Trail (accessed from Palos Verdes Drive East near Via Subida), Frascati Trail (accessed from Palos Verdes Drive East near Via Frascati), Siena Loop Trail (accessed from Via La Paloma), Miraleste Median (runs along the Miraleste Drive median), Canada S. Trail (acceessed from the intersection of Palos Verdes Drive East and Miraleste Drive), Canada N. Trail (accessed from Via Canada near Palos Verdes Drive East) and Lorraine Trail (accessed from Lorraine Road or the Canada S. Trail).

Trails and park maps are available at the Miraleste Recreation and Parks District building at #19 Miraleste Plaza, Rancho Palos Verdes, or click here (and then click on “Miraleste Recreation & Parks District Amenities Map” on the upper right-hand side under “Recreation & Parks Quick Links.”

Photo courtesy of the City of Rancho Palos Verdes

There were 18 homes on the May 15, 2012, Palos Verdes real estate Broker’s Tour.  We currently have 192 single family Palos Verdes homes for sale ranging in price from $280,000 in Rancho Palos Verdes 90275 (This is a 663 square foot commercial building on a 1312 square foot residential lot) to $12,950,000 in Rolling Hills 90274 (the low in Eastview is $499,000).  There are 40 Palos Verdes townhomes for sale priced between $259,000 and $2,695,000.  My favorite Palos Verdes homes today are:

Lily Liang’s (Peninsula Sotheby’s Int’l Realty) 31018 Marne Drive, Rancho Palos Verdes 90275 (above left) is a 5 bedroom, 6 bath, 6,002 square foot home for $3,998,000.  This Country Club architectural masterpiece built in 2004 features panoramic ocean views, a gourmet chef’s kitchen, an infinity egde  pool/spa, elevator and office.  Sean and Jonathan Rodriguez’s (RE/MAX Palos Verdes Realty) 30365 Via Rivera, Rancho Palos Verdes 90275 (above right) is a 5 bedroom, 3 bath, 2,669 square foot home for $1,299,000.  This luxuriously upgraded Pointe Vicente home features ocean views, black granite in kitchen & master bath and a pool/spa.

Rick and Kitty Edler’s (Peninsula Sotheby’s Int’l Realty) 4036 Via Largavista, Palos Verdes Estates 90274 (above left) is a 3 bedroom, 2 bath, 1,809 square foot home for $1,225,000.  This extensively updated Valmonte home features a remodeled kitchen with all-new stainless steel appliances, a family room and a backyard waterfall pond.  Mark Stoll’s (Peninsula Sotheby’s Int’l Realty) 1733 Dalton Road, Palos Verdes Estates 90274 (above right) is a 4 bedroom, 3 bath, 2,514 square foot home for $1,499,000.  This Lunada Bay traditional old Spanish custom home features an upgraded kitchen, brand new plumbing and new pool.

Photos courtesy of CRMLS

For forty-three years Palos Verdes homes owners have been able to participate in the Las Candalistas presentation of “Walk on the Wild Side,” a spring fundraiser which helps fund our local charities.  This year they have decided to change it into “A Day in the Garden,” bringing us “Entertaining and Gardening with Style”.

The event will take place on Friday, May 18, 2012, from 10:00 – 4:00 p.m. at the South Coast Botanic Garden.  The day will include favorites from the Walk, such as their specialty vendors which will include boutique and garden shopping, vintage collectibles and of course baked goods.  Following the educational tradition of the Walk, they will  have six different experts who will speak on edible landscapes, party planning, container gardening & unique landscaping, different types of flower arranging, and will show us some various art sculptures which will be made out of green items  that can be found in our own backyards.

Las Candalistas are known for their artistic talents, but their cooking traditions have brought people back to the Walk for years.  The menu this year was created by Chris Garasic from Mucho Ultima Mesicana, Manhattan Beach’s trendy culinary nirvana.  It will include a brioche sandwich with chicken and guacamole aioli, a salad with orange vinaigrette and topped with goat cheese, and for dessert a three layer chocolate flan served with ganache sauce.

A Day In the Garden will not only be a fun event, but it will also be an opportunity to enjoy the Botanic Garden during this floriferous spring season.

Tickets for the event are $60, and 25% of this will be donated back to South Coast Botanic Garden.  The Las Candalistas philanthropies include the Cabrillo Marine Aquarium, Pediatric Therapy Network and Sharefest Community Development, Inc.

For reservations for this event visit www.lascandalistas.org or call (310) 798-7499.  Tickets will not be sold at the site, so be sure to purchase them before attending.

The South Coast Botanic Garden is located at 26300 Crenshaw Boulevard, Palos Verdes Peninsula.

2011 Palos Verdes homes sales for the Country Club neighborhood increased to 29 single family homes sold compared to 18 in 2010 – a 61% increase.  Price per square foot for Country Club homes that sold in 2011 was $418 compared to $466 in 2010.  Average sales price for Country Club homes sold in 2011 was $1,466,862 compared to $1,551,311.

Currently, there are 8 Palos Verdes condo/townhouses in this area for sale.  They range from $200,000 for a studio/1 bath, 431 square foot condo, to $475,000 for a 3 bedroom/2bath, 1,358 square foot condo.  There are 7 single family Palos Verdes homes for sale in this area.  They range from $1,399,000 for a 3 bedroom/3bath, 3,014 square foot single family residence, to $2,749,000 for a 4 bedroom/4 bath, 4,048 square foot single family residence.

For background and history on Country Club Multiple Listing Area 171, please click here to read my prior article on this neighborhood.

To view current Palos Verdes real estate statistics for the entire Peninsula, please click here or on the “Statistics” tab above.

Photo courtesy of Los Verdes Golf Course/American Golf

April 2012 Palos Verdes real estate statistics indicate an improved market in all categories.  We have experienced slight increases both in Palos Verdes homes sold and pending sales compared to March.  55 Palos Verdes houses sold in April compared to 51 homes in March.  April pending sales are just about the same as March – 70 homes compared to 69 in March.  The number of active Palos Verdes homes for sale in April was just about the same as in March, 178 compared to 180 homes.  We are well into the Spring selling season and have not seen any measurable increase in the number of Palos Verdes homes for sale.  We are still at historic lows for inventory of active Palos Verdes homes for sale which makes it more of a balanced market between buyers and sellers.  As you can see from the chart above, we have 38% less inventory in April 2012 compared to April 2011.  This indicates a high demand for homes in the Palos Verdes area.

Average sales price for Palos Verdes homes sold in April was $1,369,000 compared to $1,208,000 in March.  Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $486 from $439 in March.  Average days on market in April was 90 days which was less than the 111 days in March for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) fell to 3.2 months for April compared to 3.5 months in March.  A “normal” market is considered 6 months of inventory – so we are experiencing better than normal in this area.   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 189 single family Palos Verdes homes for sale.  121 Palos Verdes houses are in escrow (54 homes have pending sales and 67 homes are accepting backup offers).  Additionally, 15 homes have sold/closed escrow in the first 10 days of March with the average sales price of $1,223,700.

Chart courtesy of Trendgraphix, Inc.

The 2012 Palos Verdes Half Marathon and 5K Run & Walk will be held on Saturday, May 19th.  It will starting and finishing at Pelican Cove which is adjacent to the Terranea Resort in Rancho Palos Verdes. This is the first time in 46 years of staging the marathon in Palos Verdes, that there will only be a half marathon offered.  This 46th annual event includes a beer garden, a giant expo and live music.

The course will be following our beautiful coastline through the communities of Rancho Palos Verdes and Palos Verdes Estates.  You will be running along Lunada Bay, Bluff Cove and Abalone Cove just to name a few locations.  With one of the most scenic vistas of rolling hills and coastline views, this run attracts thousand of runners and spectators from all over the world.

The half marathon and half marathon team challenge will be starting at 7:00 a.m (click here to view half marathon course map).  5K run & walk will start at 8:00 a.m. along with the 5K school challenge (click here to view 5K course map).  All of these starts will be at Pelican Cove (photo below) adjacent to Terranea Resort located at 6610 Palos Verdes Drive South, Rancho Palos Verdes.

The cost for runners will is $20 for 5K school challenge, Palos Verdes Half Marathon – Team Challenge $80, Palos Verdes Half Marathon individual runners $85, and community 5K run/walk is $35.  Click here for a link to register.  Late registration will take place at the Village Runner in Redondo Beach, CA on May 12th and 18th. Race day registrations are available as well, but shirt distribution will depend on existing supplies.

It is suggested that you park at The Promenade at the Peninsula, 550 Deep Valley Dr., Rolling Hills Estates.  There is a 15 minute bus ride to the start so you must be early to catch the shuttle bus. Overflow lots, at Rancho Palos Verdes City Hall and Salvation Army College at 30940 Hawthorne Boulevard, will be available early with shuttle buses to the event.  Runners can also be dropped off and picked up at the driveway to the Terranea Resort, but no parking is available at that location.

To read the full story by Nick Green, Daily Breeze, of the history of the Palos Verdes Marathon and the reasons why it was changed to a Half Marathon, please click here.

Photos courtesy of the Palos Verdes Marathon

There were 26 homes on the May 8, 2012, Palos Verdes real estate Broker’s Tour.  We currently have 190 single family Palos Verdes homes for sale ranging in price from $280,000 in Rancho Palos Verdes 90275 (This is a 663 square foot commercial building on a 1312 square foot residential lot) to $12,950,000 in Rolling Hills 90274 (the low in Eastview is $529,000).  There are 44 Palos Verdes townhomes for sale priced between $259,000 and $2,695,000.  My favorite Palos Verdes homes today are:

Alice Kuroda’s (RE/MAX Palos Verdes Realty) 8 Albero Court, Rancho Palos Verdes 90275 (above left) is a 4 bedroom, 4 bath, 3,956 square foot home for $1,799,000.  This elegant Palos Verdes Drive South home features stunning panoramic ocean/Catalina views, a gourmet kitchen and a grand master suite.  Steven Watt’s (RE/MAX Palos Verdes Realty) 1344 Palos Verdes Drive West, Palos Verdes Estates 90274 (above right) is a 5 bedroom, 6 bath, 4,527 square foot home for $2,395,000.  This spectacular Spanish style Lunada Bay home was extensively remodeled in 2011 and can be 2 separate residences with its 2  full kitchens, 2 family rooms and 2 master suites.

Judy Henry’s (RE/MAX Palos Verdes Realty) 5726 Sunmist Drive, Rancho Palos Verdes 90275 (above left) is a 3 bedroom, 4 bath, 2,506 square foot home for $1,099,000. This beautiful Crest home features ocean views, a cook’s gourmet kitchen, and a huge outdoor kitchen and pool with slide.  Kirsten Fife’s (General Realty Group, Inc.) 27018 Shorewood Road, Rancho Palos Verdes 90275 (above right) is a 3 bedroom, 2 bath, 1,598 square foot home for $835,000.  This recently remodeled Silver Spur Craftsman home is an artistic retreat that features a fabulous kitchen, sun room and a back yard with koi pond/waterfall and hot tub.

Photos courtesy of CRMLS