2010 year end results for Palos Verdes real estate look promising. According to data taken from CRMLS Matrix, number of sales for single family Palos Verdes homes was up 14% and average sales price was up 3%. Let’s look at the numbers. In 2010, 528 Palos Verdes single family homes sold versus 462 homes in 2009. In 2010, the average sales price was $1,348,725 and in 2009 the average sales price was $1,309,139.
In 2010, 182 Palos Verdes homes sold for $1,000,000 or less and in 2009 there were 177 single family homes that sold in that price range – virtually the same. However, in 2010 there was a 55% increase in the number of homes sold in the $2,000,000 plus range – there were 76 sales in 2010 versus 49 in 2009. One reason for that increase was that jumbo loans were very difficult to obtain in the first half of 2009.
The total valuation for all single family Palos Verdes homes sold in 2010 was $712,126,599 versus $604,822,223 in 2009. In 2010, the highest priced home sold for $5,500,000 in Rolling Hills; the lowest priced home sold for $570,500 in Rancho Palos Verdes ($450,000 in Eastview).
Photo courtesy of Arvin Design
