What has been the trend for Palos Verdes real estate? There have been several recent articles in the Los Angeles Times regarding real estate in California and specifically the Los Angeles area.
The Case-Shiller index of May home prices (compared to April) was reported in 20 metropolitan cities; Los Angeles was up .5% (click here to read article). Today’s Los Angeles Times ran an article, “Tax Rolls Up for 1st Time In 3 Years – The uptick in values could signal that the real estate market is growing stronger.” I was curious what Palos Verdes homes sales had experienced so I researched Palos Verdes real estate data for the last four years.
The average sales price for single family Palos Verdes houses in June 2007 was $1,582,000; June 2008 climbed to $1,700,000; June 2009 was $1,249,000; June 2010 was $1,366,000 and June 2011 was $1,445,000. As you can see from the lower red line on the top chart, sales have been rolling along in a mid range for the last three years. It’s good to keep in mind that these number reflect the homes sold in that month only and a few really high priced or low priced home sales can really change the numbers. I prefer to look at the overall graph trends.
Number of sales is also a good indicator or our Palos Verdes real estate market. 63 Palos Verdes homes sold in June 2007, 42 in June 2008, 54 in June 2009, 51 in June 2010 and 52 in June 2011. In looking at the chart above, after a slowdown in late 2008/early 2009, the number of Palos Verdes homes sold has remained fairly level. To view Palos Verdes real estate statistics from April 2010 through June 2011, click here or on the “Statistics” tab above. Please contact me if you would like an email version of the four year statistics.
Charts courtesy of Trendgraphix, Inc.
