Palos Verdes Real Estate – West Palos Verdes Update

Oceanfront Estates Bluff Trail, Rancho Palos Verdes 90275

2011 Palos Verdes homes sales for West Palos Verdes neighborhood increased to 22 single family homes sold compared to 12 in 2010 – an 83% increase.  Price per square foot for West Palos Verdes homes that sold in 2011 was $543 compared to $572 in 2010.  Average sales price for West Palos Verdes homes sold in 2011 was $2,391,000 compared to $2,436,667.

Currently there are 6 single family Palos Verdes homes for sale in this area.  They range from $1,899,000  for a 5 bedroom/4 bath, 3,498 square foot home to $5,999,000  for a 4 bedroom/7 bath, 7,800 square foot home.

For background and history on West Palos Verdes Multiple Listing Area 170, 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.

Photo of Oceanfront Estates Bluff Trail

Palos Verdes Real Estate Area MLS #170 – West Palos Verdes Estates Neighborhood

Oceanfront Estates Bluff Trail, Rancho Palos Verdes 90275

Palos Verdes real estate area 170 is known as West Palos Verdes Estates, and is located in the city of Rancho Palos Verdes.  Multiple Listing Service Area 170 includes the area at the end of Hawthorne Boulevard at the intersection of Palos Verdes Drive West and goes to the border of Palos Verdes Estates.  This area also includes the upscale new development known as “Oceanfront Estates” which goes downwards from the drive towards the water and is a planned master community of grand estates.  These homes range from 4,000 to 8,000 square feet and have large lots ranging from 1/2 to 3/4 acres.  When the land was originally developed, it included approx 66 acres of open space for the residents to enjoy.

One of the great things about this area are the walking trails along the ocean bluff.  Here you can see the ocean for miles, and even get a view of Catalina.  Another area of large luxury custom homes was developed at Marguerite Drive.  At one time the Berry family owned much of the land around Berry Hill Road.  Marguerite Drive was named for Marguerite Berry who lived in a home along the Drive.  Another street was named Laurel Drive for her daughter.

On the other side of Palos Verdes Drive West is an older development of homes extending along the East side of the Drive.  This areas is called Point Vicente because of the elementary school located above these homes with that same name (click here to read prior article on this neighborhood).

There are no commercial areas in West Palos Verdes Estates – only residential here.  Currently there are 18 single family Palos Verdes homes for sale in this area.  They range from $1,030,000 for a 4 bedroom/2 bath, 1,926 square foot home to $14,900,000 for a 5 bedroom/10 bath, 11,346 square foot home (the most expensive home currently listed on the entire Palos Verdes Peninsula!).

Photo of Oceanfront Estates Bluff Trail

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.