Palos Verdes Real Estate Blog

Palos Verdes real estate statistics for April 2013 show an increase in inventory of Palos Verdes homes for sale which is a good thing!  I think we are finally seeing our Spring surge.  The number of active Palos Verdes homes for sale in April increased to 139 homes from 106 homes in March.  63 Palos Verdes houses sold in April which is an decrease from the 69 homes that sold in March and an increase from the 55 homes that sold in April 2012.  There were 75 Palos Verdes single family homes pending in April compared to 72 in March. 

Average sales price for Palos Verdes homes sold in April increased slightly to $1,397,000 from $1,362,000 in March.  Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $513 from $484 in March.  Average days on market in April was just about the same as March – 89 compared to 88 – for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 2.2 months in April for Palos Verdes homes for sale compared to 1.5 months in March.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is substantially less than that indicating the strength of our local market.   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 139 single family Palos Verdes homes for sale.  112 Palos Verdes houses are in escrow (56 homes have pending sales and 56 homes are accepting backup offers).  Additionally, 21 homes have sold/closed escrow in the first 9 days of April with an average sales price of $1,611,262!

Chart courtesy of Trendgraphix, Inc.

Sales for Palos Verdes real estate single family homes in the first 25 days of April 2013 are 46 which is less than the first 25 days of March (56) and nearly the same as  the first 25 days of April 2012 (44).  (It may take an additional week for some sales to post after the actual close of escrow).  The average sales price for single family Palos Verdes homes from April 1st to date is $1,381,430 which is up slightly from last month’s average of $1,339,829 for this same time period.

In April 2013 to date, the highest priced Palos Verdes home sold for $3,900,000 in the prestigious Oceanfront neighborhood of Rancho Palos Verdes; this fabulous estate was built in 2005 and has 7,985 square feet, 5 bedrooms and 6 baths on a 24,413 square foot lot.  Other features include a gourmet kitchen, library, private hobby room/studio, a semi out-door gym/entertaining area and a small basketball court.  The lowest priced Palos Verdes home sold to date in April for $795,000 and is located in the Los Verdes neighborhood of Rancho Palos Verdes; this home has 2,157 square feet, 3 bedrooms and 3 baths on a 9,050 square foot lot.

We currently have 134 active single family Palos Verdes homes for sale priced between $789,000 in Rancho Palos Verdes and $12,500,000 also in Rancho Palos Verdes (the low in Eastview is $715,000).  To view Palos Verdes real estate statistics from January 2012 through March 2013, click here or on the “Statistics” tab above.

Photo above is of the mustard fields in Palos Verdes

Palos Verdes real estate statistics for March 2013 are exciting!  68 Palos Verdes houses sold in March which is an increase from the 51 homes that sold last March 2012 and an increase from the 45 homes that sold in February.  There were 76 Palos Verdes single family homes pending in March compared to 56 in February.  The number of active Palos Verdes homes for sale in March is exactly the same as February – 106 homes.  Our inventory of homes for sale has been very low for the last four months.  As you can see by the chart above, in March we had 41% less active Palos Verdes homes for sale compared to March 2012 yet the number of sales are up.

Average sales price for Palos Verdes homes sold in March increased slightly to $1,370,000 from $1,357,000 in February.  Price per square foot for Palos Verdes houses that sold/closed escrow in March increased to $486 from $458 in February.  Average days on market in March fell to 87 days from 124 days in February for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 1.6 months in March for Palos Verdes homes for sale compared to 2.4 months in February.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is substantially less than that indicating the strength of our local market.   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 115 single family Palos Verdes homes for sale.  117 Palos Verdes houses are in escrow (53 homes have pending sales and 64 homes are accepting backup offers).  Additionally, 19 homes have sold/closed escrow in the first 11 days of April.

Chart courtesy of Trendgraphix, Inc.

2012 Palos Verdes homes sales for the Rolling Hills neighborhood increased slightly to 19 single family homes sold in 2012 compared to 18 in 2011.  Price per square foot for Rolling Hills houses that sold in 2012 increased to $712  compared to $660 in 2011, a 7.8% increase.  Average sales price for Rolling Hills homes sold in 2012 was $2,651,579 compared to $3,112,778 in 2011.  The most expensive home sold for $7,000,000 and the lowest priced home sold for $1,250,000.

Currently, Rolling Hills has 12 single family homes for sale ranging from $2,000,000 for a 4 bedroom/3 bath, 2,673 square foot home to $10,900,000 for a 4 bedroom/7 bath, 7,413 square foot home.

For background and history on Rolling Hills Multiple Listing Area 166, 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 Rolling Hills

2012 Palos Verdes homes sales for the Palos Verdes Drive North neighborhood increased to 69 single family homes sold compared to 34 in 2011.  Price per square foot for Palos Verdes Drive North houses that sold in 2012 increased slightly to $440 compared to $436 in 2011.  Average sales price for Palos Verdes Drive North homes sold in 2012 increased slightly to $1,269,036 compared to $1,226,197  in 2011.  The most expensive home sold for $3,999,000 and the lowest priced home sold for $665,000.

Currently, Palos Verdes Drive North has 11 active Palos Verdes homes for sale.  There is 1 townhome for sale for $539,000 for a 2 bedroom/3 bath, 1,727 square foot townhome.  There are 10 single family homes for sale ranging from $899,000 for a 3 bedroom/2 bath, 2,112 square foot home to $2,995,000 for a 3 bedroom/4 bath, 4,504 square foot home.

For background and history on Palos Verdes Drive North Multiple Listing Area 165, 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 City of Rolling Hills Estates

2012 Palos Verdes homes sales for the Valmonte neighborhood increased to 41 single family homes sold compared to 37 in 2011.  Price per square foot for Valmonte houses that sold in 2012 decreased slightly to $503 compared to $506 in 2011.  Average sales price for Valmonte homes sold in 2012 increased slightly to $1,213,049 compared to $1,209,634 in 2011.  The most expensive home sold for $3,317,218 and the lowest priced home sold for $765,000.

Currently. there are only 2 active Palos Verdes homes for sale in the Valmonte neighborhood ranging from $1,149,000 for a 3 bedroom, 2 bath, 1,813 square foot home to $1,495,000 for a 3 bedroom/2 bath, 1,898 square foot home.

For background and history on Valmonte Multiple Listing Area 164, 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 of the Palos Verdes Drive North trail courtesy of Arvin Design

Palos Verdes real estate statistics for February 2013 show the market’s strength.  44 Palos Verdes houses sold in February which is an increase from the 38 homes that sold last February and a slight decrease from the 48 homes that sold in January.  There were 58 Palos Verdes single family homes  pending in February compared to 63 in January.  The number of active Palos Verdes homes for sale in February increased to 106 homes compared to 99 homes in January.  Our inventory of homes for sale has been very low for the last three months.  As you can see by the chart above, in February we had 41% less active Palos Verdes homes for sale compared to February 2012 yet the number of sales are up.

Average sales price for Palos Verdes homes sold in February increased to $1,369,000 from $1,238,000 in January.  Price per square foot for Palos Verdes houses that sold/closed escrow in February decreased to $461 from $471 in January.  Average days on market in February rose to 113 days from 86 days in January for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased slightly to 2.4 months for February Palos Verdes homes for sale compared to 2.1 months in January.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is substantially less than that indicating the strength of our local market .   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 102 single family Palos Verdes homes for sale.  102 Palos Verdes houses are in escrow (45 homes have pending sales and 57 homes are accepting backup offers).  Additionally, 22 homes have sold/closed escrow in the first 8 days of March!

Chart courtesy of Trendgraphix, Inc.

Sales for Palos Verdes real estate single family homes in the first 21 days of February is less than the first 21 days of last month (30) but exactly the same the first 21 days of February 2012 (25).  25 Palos Verdes houses have been reported as sold to date since February 1, 2013.   (It may take an additional week for some sales to post after the actual close of escrow).  The average sales price for single family Palos Verdes homes from February 1st to date is $1,336,613 which is up from last month’s average of $1,165,752 for this same time period.

In February 2013 to date, the highest priced Palos Verdes home sold for $3,700,000 in the Malaga Cove neighborhood of Palos Verdes Estates; this dramatic contemporary home has 5,930 square feet, 5 bedrooms and 6 baths.  It is located across from the ocean bluff and features panoramic ocean/Queen’s necklace views, a gourmet kitchen, a large master with sauna and a center courtyard on a 48,993 square foot lot.  The lowest priced Palos Verdes home sold to date in February for $764,300 and is located in the Silver Spur neighborhood of Rancho Palos Verdes; this home has 1,194 square feet, 2 bedrooms and 2 baths on a 7,121 square foot lot.

We currently have 112 active single family Palos Verdes homes for sale priced between $795,000 in Rancho Palos Verdes and $15,900,000 also in Rancho Palos Verdes (the low in Eastview is $519,000).  To view Palos Verdes real estate statistics from November 2011 through January 2013, click here or on the “Statistics” tab above.

Photo above of Bluff Cove is courtesy of Arvin Design

Palos Verdes real estate statistics for January 2013 show the market’s strength.  48 Palos Verdes houses sold in January which is an increase from the 34 homes that sold last January and a decrease from the 60 homes that sold in December.  Pending sales increased substantially in January; there were 66 Palos Verdes single family homes pending compared to 43 in December.  The number of active Palos Verdes homes for sale in January decreased to a new low of 99 homes compared to 106 homes in December.  Our inventory of homes for sale has been decreasing for the last seven months.  As you can see by the chart above, in January we had nearly 50% less active Palos Verdes homes for sale compared to January 2012 yet the number of sales in 2012 increased to 638 homes compared to 566 homes sold  in 2011.  Demand is definitely up for Palos Verdes houses.

Average sales price for Palos Verdes homes sold in January decreased to $1,238,000 from $1,425,000 in December.  Price per square foot for Palos Verdes houses that sold/closed escrow in January decreased to $471 from $488 in December.  Average days on market in January rose to 86 days from 78 days in December for properties sold that month.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased slightly to 2.1 months for January Palos Verdes homes for sale compared to 1.8 months in December.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is substantially less than that indicating the strength of our local market .   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 100 single family Palos Verdes homes for sale.  102 Palos Verdes houses are in escrow (40 homes have pending sales and 62 homes are accepting backup offers).  Additionally, 18 homes have sold/closed escrow in the first 11 days of February.

Chart courtesy of Trendgraphix, Inc.

2012 Palos Verdes homes sales for Lunada Bay/Margate neighborhood was nearly he same – 69 single family homes sold compared to 70 in 2011.  Price per square foot for LunadaBay/Margate houses that sold in 2012 increased to $546 compared from $525 in 2011.  Average sales price for Lunada Bay/Margate homes sold in 2012 was $1,889,486 compared to $1,484,198 – a 27% increase!  The most expensive home sold for $5,225,000 and the lowest priced home sold for $972,000.

Currently, Lunada Bay/Margate has 8 active Palos Verdes homes for sale ranging in price from $1,335,999  for a 3 bedroom/3 bath, 2,265 square foot home, to $4,795,000 for a 4 bedroom/6 bath, 4,123 square foot home.  There are no condos/townhouses for sale at this time.

For background and history on Lunada Bay/Margate Multiple Listing Area 160, 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 ocean view from Lunada Bay