Palos Verdes Real Estate Blog

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

2011 Palos Verdes Home sales for the Valmonte neighborhood decreased to 37 single family homes sold compared to 40 in 2010 – a 7.5% decrease.  Price per square foot for Valmonte houses that sold in 2011 was $506 compared to $526 in 2010.  Average sales price for Valmonte homes sold in 2011 was $1,209,634 compared to $1,234,938 – a slight decrease.

Currently, as of 3/30/2012, Valmonte has only 6 active Palos Verdes homes for sale.  They range from $995,000 for a 3 bedroom, 2 bath, 1,780 square foot home to $2,295,000 for a 4 bedroom, 5 bath, 3,631 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 courtesy of Arvin Design

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

“The Childrens’ Fountain”

2011 Palos Verdes homes sales for Lunada Bay/Margate neighborhood increased to 70 single family homes sold compared to 62 in 2010 – a 13% increase.  Price per square foot for LunadaBay/Margate house that sold in 2011 was $525 compared to $529 in 2010.  Average sales price for Lunada Bay/Margate homes sold in 2011 was $1,484,198 compared to $1,632,724.  The most expensive home sold for $4,175,000 and the lowest priced home was a short sale which sold for $606,200.

Currently, Lunada Bay/Margate has 25 active Palos Verdes homes for sale. One is a condo/townhome priced at $440,000 for a 2bedroom/2bath, 1,315 square foot condo. The 24 single family homes range from $1,049,000 for a 3 bedroom/2 bath, 1,602 square foot home, to $5,695,000 for a 5 bedroom/7 bath, 7,528 square foot home.

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 courtesy of the city of Palos Verdes Estates

Palos Verdes homes owners are quite happy with the recent statistics by Advance Publication Inc. (which publishes magazines such as Parade).  It found that Palos Verdes Estates ranked 6th in the Western United States and 23rd nationally for their “Quality of Life”.  On Numbers, a publication owned by Advance Publications, completed a study which looked at over 20 criteria in 3,764 communities with a population over 10,000.  The study looked for well-rounded areas with healthy economies, light traffic, moderate cost of living, impressing housing stocks and strong educational systems.

In a recent Daily Breeze article, Palos Verdes Estates Mayor John Rea described “the Palos Verdes Peninsula community of 13,500 as being a “rustic paradise by the sea”.  Rea went on to say, “Our city is located on a beautiful peninsula with spectacular ocean views and well maintained, tree lined streets where we have invested in our infrastructure.  Our community is more rural than suburban because of open space and our urban forest and minimal business center.”  Palos Verdes Estates does not have any traffic signals, only a handful of street lights, no sidewalks in residential areas, its own Police Department and the trash collectors come to your side yard to pick up your barrels.

Manhattan Beach ranked #25 and Rancho Palos Verdes ranked #71.   Click here to read the entire Daily Breeze article with information on other local cities.

Have you ever wondered how to keep your Palos Verdes home safe while your away?  The Palos Verdes Police Department offers a periodic surveillance of your home or property if you are traveling overnight.  It’s easy to participate in the program by just going to the city’s website at www.pvestates.org and then go to the Police Department page.  Click on “Forms” then “Home Vacation Check” to fill out an online request. This information is kept within the Police Department so they can provide extra patrol to your home while you are away.  For more information contact the Police Department at (310) 378-4211.

Photo courtesy of the Palos Verdes Police Dept

Palos Verdes real estate area 164 is the Valmonte neighborhood which is located in Palos Verdes Estates and is east of Malaga Cove bordering Rolling Hills Estates on the South and Torrance’s Hollywood Riviera on the North and East.  Valmonte has always been known for its dense eucalyptus grove that runs through the area. The Valmonte area was originally home to many smaller older Palos Verdes homes, but  there has been a lot of remodeling in the area and the house size is growing as well.  This area is particularly liked by families with younger children.  The old Valmonte elementary school site once housed the Peninsula’s school district office until it moved recently to its newly renovated location at the old Malaga Cove intermediate school site.  Currently the old Valmonte School site is being used  to house its Sunrise program, which specializes in children with mild limitations, and its open pre-school facilities. There is also a huge playground and one of the larger baseball fields in the area.  During the summer families get to enjoy the big movie nights with the large blow up screen, and lounge chairs sprawled throughout the lawns.

The Palos Verdes Estates “gatehouse” also known as the Tower House is located in Valmonte on Via Valmonte just bordering Torrance.  The building is two stories high, 15 feet in diameter with 18 inch thick walls.  It was never actually used as a gatehouse and it is now rented out by the city.

Valmonte also has public horse stables (Palos Verdes Stables) that are located at its Northeast border off Via Opata.  The municipal stables once were located across from the east end of the golf course and had trails going through the city and to the beach.  Valmonte Plaza (Palos Verdes Drive North and Via Pavion) was planned as a beautiful Spanish mall but never materialized due to the Great Depression; it is now part of the city’s park lands.

Currently, Valmonte has 20 active Palos Verdes homes for sale.  They range from $884,000 for a 4 bedroom, 2 bath, 2,109 square foot home to $2,295,000 for a 5 bedroom, 5 bath, 4,063 square foot home.

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.

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.

Earlier this week, I attended a Palos Verdes real estate Board Breakfast Meeting with the City Managers from all 4 cities on the Peninsula – Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills and Rolling Hills Estates.  Here is a summary of their updates:

Tony Dahlerbrach from Rolling Hills reported on the initiative going on the ballot for the next election in March 2012 regarding passive and storage usage of barns.  The property involved in the Poppy Trail landslide is being remediated by the insurance company and will be sold as two separate lots in December.  Verizon and AT&T have installed new cell sites so there will be better cellular coverage.  There is a new ordinance going before the Planning Commission regarding glare studies for solar panel installations.

Carolyn Petru, the Rancho Palos Verdes Deputy City Manager reported on the Mirandela Project (affordable housing) at Crenshaw and Crestridge with 34 units on a 3-acre build site within 19 acres for the total project.  Many of the residents are former Palos Verdes residents who qualified for the program.  We also heard about the Park Ranger Program on the 1400 acre Nature Preserve manned by the Mountains Recreation & Conservation Authority.  Most of the citations have been for off leash dogs, improper trail use, unauthorized paragliding, off-road motorized vehicles, camping, issues at Sacred Cove, graffiti removal and illegal dumping.  There is a Junior Ranger Program in pilot phase to teach trail skills, recognizing animal tracks, etc.

Joe Hoefgen from Palos Verdes Estates reported that the speed cushions on Via Del Monte will be reviewed next month – most feedback has been positive however bicyclist are not in favor.  There is a current study to monitor the underground water in the Malaga Cove commercial area.  Applications are being accepted from Palos Verdes Estates residents who want to volunteer for committees within city.   They have a new website: www.PVestates.org

Douglas Prichard from Rolling Hills Estates reported that the local economy is showing signs of recovery based on tax revenues.  It will be another 2-3 years before improvements to Palos Verdes North, west of Crenshaw are complete.  He discussed several development projects.  828 Silver Spur (former Arco site) will probably be approved as a small commercial building.  627 Deep Valley Drive (old car wash site) is currently approved for 58 senior units and may become an assisted living site.  655 Deep Valley Drive (Brick Walk) will go to Planning Commission for 150 units.  Rolling Hills Covenant Church expansion was approved for 16,000 square foot office and school expansion on south campus.  Butcher Ranch subdivision at Palos Verdes Drive North and Palos Verdes Drive East is approved for 11 single family homes.  Chandler Preserve status: Planning Commission approved project and now going before City Council for 114 single family residences on 1/2 acre lots, private streets, total redesign of Rolling Hills Golf Course and boundary line adjustment between Torrance and Rolling Hills Estates.

Photo courtesy of Arvin Design