Palos Verdes Real Estate Palos Verdes Drive South Update

2011 Palos Verdes homes sales for the Palos Verdes Drive South neighborhood of Rancho Palos Verdes increased to 32 single family homes sold in 2011 from 21 sold in 2010.  Price per square foot for Palos Verdes Drive South houses that sold in 2011 increased to $482 compared to $462 in 2010. Average sales price for Palos Verdes Drive South homes sold in 2011 was $1,401,766 compared to $1,329,190  – a 5% increase.

Currently as of 5/06/2012, Palos Verdes Drive South has 35 active Palos Verdes homes for sale.  They range from 17 condo/town homes priced from $489,000 for a 2 bedroom, 2 bath, 1,433 square foot unit, to $2,696,000 for a 3 bedroom, four bath, 2,808 square foot unit.  There are 19 single family homes ranging from $$825,000 for a  3 bedroom, 2 bath, 1,500 square foot home, to $10,000,000 for a six bedroom, 8 bath, 7,669 square foot home.

For background and history on Palos Verdes Drive South Multiple Listing Service #169, please click here to read my prior article on this neighborhood.

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

Photo courtesy of Terranea Resort

Palos Verdes Real Estate Area MLS #169 – Palos Verdes Drive South Neighborhood/Part 2

This continues the last article on Palos Verdes real estate area 169 known as the Palos Verdes Drive South neighborhood in Rancho Palos Verdes 90275.  This area includes two of the larger points of interest or destination spots on the Palos Verdes Peninsula.

Trump National Golf Club (originally known as Ocean Trails) is located on 261 acres and includes a magnificent shoreline par 72 championship golf course designed by Pete Dye, a 38,000 square foot clubhouse with restaurant/banquet facilities, and 75 homes sites that range from 12,000-40,000 square feet.  Trump National has over 150 acres of coastal sage/scrub habitat, 3 parks, and fifty three acres of open space.  There are  public trails to the beach and along the bluff.

Terranea Resort opened two years ago at Long Point (also known as the old Marineland site) on 103 acres of coastal bluff (by Destination Resort Hotels).  It has 450 rooms and Casitas, a large convention center, spa, and golf course.  This beautiful site has three large pools, and many great restaurants.  Palos Verdes Homes owners have found many reason to enjoy this locale, not only for its amenities, but also the ground themselves lead to many breathtaking views and walking trails.  Villas and Casitas are also available for sale.

Point Vicente Interpretive Center is located on an ocean bluff with such fabulous views of the Pacific Ocean that it is used as a center to count the migration of whales each year (click here to see current count).  The Interpretive Center also has nature trails and whale watching activities.  The Point Vicente Lighthouse which is a Coast Guard facility is closed to the public but the tower and museum are open the second Sunday of each month from 10:00 a.m. to 3:00 p.m.

The gated Portuguese Bend area is home to the Vanderlip Estate which was built by the original developer of Palos Verdes.  Abalone Cove Shoreline Park, located west of Portuguese Bend, is a rugged beautiful coastline preserve with public access to the beach, 5 miles of trails and tide pools along this shoreline.

Golden Cove shopping center is located in this area.  The center consists of several restaurants, offices, shops, a private Montessori school and a new Trader Joe’s.

Currently, there are 12 condos for sale in this area.  They range from $415,000 for a 2 bedroom/2bath, 1,433 square foot condo, to $2,495,000 for a 3 bedroom/4bath, 2,808 square foot condo. There are 28 Palos Verdes homes for sale ranging from $869,000 for a 3 bedroom/2bath, 2,034 square foot home, to $12,000,000 for a 5 bedroom/9bath, 11,000 square foot home.

Photo courtesy of Terranea Resort

Palos Verdes Real Estate Area MLS #169 – Palos Verdes Drive South Neighborhood/Part 1

Wayfarers Chapel, Rancho Palos Verdes, CA 90275

Palos Verdes real estate area 169 is known as Palos Verdes Drive South, which is located in the city of Rancho Palos Verdes.  Multiple Listing Service Area 169 includes the areas along and off Palos Verdes Drive South from the end of Hawthorne to the San Pedro border.  This is a unique region since it includes residential homes and multifamily developments, as well as commercial and recreational developments.

This area has been receiving attention lately because of the new commercial developments like Terranea Resort, Trump National Golf Club, Trader Joe’s, etc. The Palos Verdes Drive South area is also home to several large parcels of vacant land some of which have been donated/acquired by the Palos Verdes Peninsula Land Conservancy.  The Portuguese  Bend and Abalone Cove landslides are located here as is evidenced by the above-ground utilities along portions of Palos Verdes Drive South and the barren portions of the hillside.  The Portuguese Bend coastline has two magnificent points – Portuguese Point on the West and Inspiration Point on the East.  Portuguese Bend takes its name from the Portuguese Company which once operated a whaling site here.

There are many neighborhoods in the area and some are private as well as newer and established subdivisions.  The Seacove community has a private gated path to the beach, the Portuguese Bend Beach Club is a guard gated beach community with a private sand beach and upper Portuguese Bend is also gated.  Other neighborhoods include The Estates at Trump National, Ladera Linda, Seaview, Vista Pacifica, Peninsula Pointe, the Bay Club condominiums, Villa Capri townhomes and La Rotonda condominiums.

Wayfarer’s Chapel designed by Lloyd Wright (son of Frank Lloyd Wright) and dedicated in 1951 is located at 5755 Palos Verdes Drive South and is the site of hundreds of weddings each year (sometimes 3 or 4 a day).  Ladera Linda Park is located off of Palos Verdes Drive South along Forrestal Drive.  Del Cerro Park (the beginning of several hiking trails leading down into this area) is located at the end of Crenshaw Boulevard.

Photo above is Wayfarers Chapel

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.