Palos Verdes Real Estate Malaga Cove Neighborhood 2012 Sales

Neptune Fountain and Malaga Cove Plaza, Palos Verdes Estates, CA 90274 courtesy of Arvin Design

2012 Palos Verdes homes sales for the Malaga Cove neighborhood stayed the same with 30 single family homes sold in both 2012 and 2011.  Price per square foot for Malaga Cove houses that sold in 2012 increased to $584 compared from $574 in 2011 a 1.7%  increase.  Average sales price for Malaga Cove homes sold in 2012 was $1,898,649 compared to $1,873,652.  The most expensive home sold for $3,200,000 and the lowest priced home sold for $780,000.

Currently, Malaga Cove has 6 active Palos Verdes homes for sale.  There are 2 townhomes/condos ranging in price from $639,000 for a 2 bedroom/3 bath, 1,558 square foot condo to $849,000 for a 2 bedroom/2 bath, 1,420 square foot condo.  There are 4 single family homes for sale ranging from $1,695,000 for a 3 bedroom/3 bath, 3,024 square foot home to $6,500,000 for a 5 bedroom/7 bath, 9,853 square foot home.

For background and history on Malaga Cove Multiple Listing Area 163, 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 above of Neptune Fountain and Malaga Cove Plaza courtesy of Arvin Design

Palos Verdes Homes Sales Malaga Cove First Half of 2012

 

Palos Verdes homes sales for the Malaga Cove neighborhood for the first half of 2012 decreased to 18 single family homes sold in the first half of 2012 compared to 20 in the first half of 2011.  We have been experiencing a low inventory of homes to sell since the first of the year.  Average sales price for Malaga Cove homes sold in the first half of 2012 decreased to $1,848,972 from $1,991,978 for the first half of 2011.  Price per square foot for Malaga Cove houses that sold in the first half of 2012 decreased to $582 from $592 in first half of 2011.  The most expensive home sold for $3,125,000 and the lowest priced home sold for $780,000

Currently, Malaga Cove has 6 single family homes for sale ranging from $1,794,500 for a 5 bedroom/5 bath, 2,073 square foot home, to $9,900,000 for a 5 bedroom/9 bath, 10,600 square foot home.

For background and history on Malaga Cove Multiple Listing Area 163, 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 is of Neptune Fountain in Malaga Cove Plaza

 

Palos Verdes Real Estate Malaga Cove Update

2011 Palos Verdes home sales for the Malaga Cove neighborhood increased to 30 single family homes sold compared to 28 in 2010 – a 7% increase.  Price per square foot for Malaga Cove houses that sold in 2011 was $574 compared to $581 in 2010.  However, average sales price for Malaga Cove homes sold in 2011 was $1,873,652 compared to $1,839,481 – a slight increase.

Currently, as of 3/26/2012, Malaga Cove has 8 active Palos Verdes homes for sale.  They range from $1,019,000  for a 3 bedroom, 2 bath, 1,892 square foot home to $3,750,000 for a 4 bedroom, 5 bath, 5,629 square foot home.

For background and history on Malaga Cove Multiple Listing Area 163, 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 above is of the Neptune Fountain at Malaga Cove Plaza

 

Malaga Cove – MLS Area 163

Palos Verdes Real Estate is sectioned into 17 different Multiple Listing Service areas for Palos Verdes homes.  Malaga Cove (Area 163) in Palos Verdes Estates 90274 is located along the North shoreline of Palos Verdes Estates from the Malaga Cove Triangle to Bluff Cove at the Margate border.  From there it goes inland up the hill to the area near LaVenta Inn and towards the Palos Verdes Country Club.  This is the first area developed in Palos Verdes Estates with its planned commercial plaza (Malaga Cove Plaza) and the famous “Neptune Fountain” replica sculpture.  Malaga Cove is also a popular location for movie filming and commercials.  It is home to the Palos Verdes Police Department, library, city government offices, the county fire station and also the Palos Verdes Pool and Athletic Club.  Malaga Cove is the site of the first school that was built in Palos Verdes in 1926.  The old Malaga Cove intermediate school building now houses the Palos Verdes School District offices and the Costume Closet.

There are two churches in this area, the Neighborhood Church on Paseo del Mar and St. Francis Episcopal church on Via Rosa.

The Olmsted brothers were responsible for much of the park-like design in the Malaga Cove area. They worked on the area around the library, and are responsible for laying out the design that enables the open areas to showcase the beauty.  Malaga Cove is also home to peacocks which one can see roaming the area.

The Palos Verdes Country Club which is located at the end of Malaga Cove area, is a championship golf course with a Mediterranean style clubhouse.  The course was completed in 1925.  The clubhouse is also a popular wedding venue.  The property also houses a tennis club.

Currently Malaga Cove has 12 active listings for sale.  There are 3 condo/townhouses ranging from $625,000 for a 2 bedroom, 3 bath, 1,558 square foot unit, to $1,550,000 for a 3 bedroom, 4 bath, 2,940 square foot townhome. The single family homes range from $1,499,000 for a 3 bedroom, 2 bath, 2,029 square foot home to $10,900,000 for a 5 bedroom, 9 bath, 9,790 square foot home.

2010 Home Sales by Neighborhood

Palos Verdes 2010 Real Estate Sales by Neighborhood for 90274 and 903275

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.