Palos Verdes Real Estate Monte Malaga Update

2011 Palos Verdes home sales for the Monte Malaga neighborhood decreased to 28 single family homes sold compared to 33 in 2010 – a 15% decrease.  Price per square foot for Monte Malaga houses that sold in 2011 was $534 compared to $541 in 2010.  However, average sales price for Monte Malaga homes sold in 2011 was $2,230,929 compared to $2,207,167 – a slight increase.  The most expensive home sold for $9,150,000 and the lowest priced home sold for $885,000.

Currently,  Monte Malaga has 13 active Palos Verdes homes for sale.  They range from $1,050,000  for a 3 bedroom, 2 bath, 1,869 square foot home to $10,500,000 for a 5 bedroom, 8 bath, 8000 square foot home.

For background and history on Monte Malaga Multiple Listing Area 162, 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.

The photo above is of the recently remodeled  Monte Malaga School library.

Montemalaga – MLS Area 162

Palos Verdes Real Estate is sectioned into 17 different Multiple Listing Service areas for Palos Verdes homes.    Montemalaga (Area 162) is located above Lunada Bay and north of Rancho Palos Verdes, to the Malaga Cove area near La Venta Inn.  Some of the largest homes on the Palos Verdes Peninsula are located in this area.  The lots in Montemalaga are also some of the largest in Palos Verdes Estates.  Montemalaga has the highest elevation in Palos Verdes Estates and contains an area referred to by locals as New York Hill.  This development of custom built homes are larger in size (up to 39,000 square feet).  At one time the Seaver family owned the acreage that surrounds the area which now houses the Zurita baseball field (but later sold if off) .   Coronel Plaza was originally planned as a small commercial district,  but those plans changed and now it is exclusively residential.  Montemalaga Elementary School is also located in this area.

Currently Montemalaga has 22 active Palos Verdes homes for sale.  They range from $995,000 for a 3 bedroom, 2 bath, 1,677 square foot home to $11,500,000 for a 5 bedroom, 8 bath, 8000 square foot home.

The photo above is of the recently remodeled Montemalaga School library.

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.