2011 Palos Verdes homes sales for the Crest neighborhood stayed the same with 23 single family homes being sold in both 2010 and 2011. Price per square foot for Crest homes that sold in 2011 was $413 compared to $427 in 2010. Average sales price for Crest homes that sold in 2011 was $1,005,843 compared to $1,033,880 in 2010.
Currently, there are 12 townhouse/condos for sale in this area. They range from $294,000 for a 1 bedroom/ 1 bath, 765 square foot condo, to $789,000 for a 4 bedroom/3 bath, 2,217 square foot unit. There are 8 single family homes for sale in this area. They range from $669,000 for a 2 bedroom/3 bath, 1,961 square foot home, to $1,448,000 for a 4 bedroom/3 bath, 3,084 square foot home.
For background and history on Crest Multiple Listing Area #174, 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 the Norris Theatre which is located in the Crest neighborhood
Palos Verdes real estate area #174 is known as Crest, and is located in both the city of Rancho Palos Verdes and Rolling Hills Estates. Multiple listing Service Area 174 has a very irregular shape and is bordered by Hawthorne Boulevard, then south on Indian Peak to Crenshaw to Crest to Highridge to Armaga Springs into Indian Valley to Hawthorne.
The Crest area includes the single family developments of Seaview, Stonecrest, and Mesa Verde and a large tract of single family Palos Verdes homes near Whitley Collins Drive (which is located near Highridge and Crest Road. It also includes the Highridge condos, and several gated townhomes – Mira Verde, Ridgegate, Hilltop, and the Terraces.
Ridgecrest Intermediate School is located in this area as well as the Harlyne J. Norris Pavalion which is located across from the Norris Theatre. This multi-function facility is used for meetings, education, and special events. The Schaffer Forum which is located inside the premises can seat from 250-300 for receptions and parties.
Currently there are 13 condo/town homes in the Crest area ranging from $334,900 for a 2 bedroom/2 bath, 1,165 square foot unit to $799,000 for a 2 bedroom/2 bath, 1,834 square foot condo. There are 5 single family Palos Verdes homes in this area for sale. They range from $995,000 for a 3 bedroom/4 bath, 3,017 square foot single family residence to$1,295,000 for a 3 bedroom/4 bath, 3,064 square foot single family residence.
Photo courtesy of the Norris Theatre
Sales by neighborhood for Palos Verdes real estate detail an average price range of over $1,000,000 for 13 out of 17 areas; only 4 areas were below $1,000,000. Single family Palos Verdes homes showed an increase in average sales price in 9 areas ranging from .8% in Lunada Bay to 46.4% in West Palos Verdes. Rolling Hills posted the largest decrease in average sales price of 21.6%.
Lunada Bay had the largest number of Palos Verdes homes sold (61) and West Palos Verdes had the smallest number of homes sold (12). West Palos Verdes also had the highest average sales price at $2,436,667 for Palos Verdes homes sold. The higest average square foot price for Palos Verdes homes sold was in Los Verdes at $685 per square foot and the lowest was in Eastview RPV at $392 per square foot.
The average price for single family Palos Verdes homes sold in 2010 was $1,441,118 which was 3.6% higher than 2009. The average price per square foot for Palos Verdes homes sold was $496 per square foot which was 2% lower than 2009. A better view of the above chart can be seen by clicking here or on the “Statistics ” tab above.