In a prior article, “How Did 2011 Palos Verdes Homes Sales Compare?”, I gave preliminary statistics for the entire Palos Verdes Peninsula. Now we will look at those final numbers as well as the individual neighborhoods. The chart above can be enlarged by clicking on it or go to the “Statistics” tab above and scroll to bottom.
561 single family Palos Verdes homes sold in 2011 compared to 530 homes sold in 2010 – a 6% increase. Average sales price for single family Palos Verdes houses sold in 2011 increased slightly from 2010 – $1,358,845 in 2011 compared to $1,350,120 in 2010 – a .6% increase. Average square foot price for Palos Verdes houses sold in 2011 was $476 compared to $488 in 2010 – a 2.4% decrease. Some areas of the country do not use square foot prices as they are not always a reliable number as smaller homes sell for more per square foot, there is not additional valuation for extra land and the house may actually be larger/smaller than the square footage shown.
The city of Rolling Hills posted the largest gain in average sales price – $3,112,778 for 2011 compared to $2,036, 336 in 2010. The Monte Malaga, Malaga Cove, Palos Verdes Drive North, Palos Verdes Drive East, Mira Catalina and Palos Verdes Drive South neighborhoods also showed small gains in average sales price. The Silver Spur neighborhood posted the largest decrease in average sales price – $837,146 for 2011 compared to $956,856 in 2010.
Mira Catalina posted the largest gain in average square foot price for Palos Verdes homes sold – a 12% increase from $401 in 2011 compared to $448 in 2010. Rolling Hills, Palos Verdes Drive South, and Peninsula Center also showed gains in square footage price. Silver Spur showed the largest decrease in square foot price (12.2%) from $493 in 2011 compared to $433 in 2010.
Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in 2011 – 70 houses (62 houses in 2010). Palos Verdes Drive East posted the biggest gain in home sales – 58 in 2011 compared to 36 in 2010. Malaga Cove, Palos Verdes Drive South, West Palos Verdes, Country Club, Silver Spur and Eastview RPV also had an increase in number of homes sold in 2011 compared to 2010.
2011 information on median price for Palos Verdes homes sold as well as total valuation of Palos Verdes real estate and highest/lowest home sales can be obtained by clicking here or going to my prior post, “How Did 2011 Palos Verdes Homes Sales Compare?”.
