Sales statistics for Palos Verdes real estate for the first half of 2012 indicate a 13.7% increase in sales for single family homes compared to the same period last year. 307 Palos Verdes homes sold in the first half of 2012 compared to 270 homes for the same period last year. Average sales price, however, decreased to $1,356,674 in the first six months of this year compared to $1,429,587 last year.
Let’s look at the price mix of Palos Verdes homes sold the first half of this year. 130 homes sold under $1,000,000 which was 42.3% of sales (105 last year at 38.8% of sales), 135 homes sold between $1,000,000 and $2,000,000 (120 homes last year) and 42 homes sold over $2,000,000 which was 13.6% of sales (45 homes last year at 16.6% of sales). The first six months of the year had more Palos Verdes homes sold in the under $1,000,000 range and less sales in the over $2,000,000 range.
The total valuation for all single family Palos Verdes homes sold the first six months of 2012 was $416,102,358 compared to $388,668,412 in the first six months of 2011. In the first half of 2012, the highest priced home sold for $7,000,000 in Rolling Hills, the lowest price home sold for $530,000 in Rancho Palos Verdes ($515,000 in Eastview). Next, we will look at sales in the individual Palos Verdes neighborhoods.
