Sales of Palos Verdes homes for the first half of 2013 increased 15% compared to the same period last year. 353 Palos Verdes homes sold in the first half of 2013 compared to 307 homes for the same period last year. Average sales price increased to $1,391,629 in the first six months of this year compared to $1,355,125 for the first six months of last year. Price per square foot increased to $506 for the first six months of this year compared to $465 for the same time period last year – an 8.8% increase.
Let’s look at the price mix of Palos Verdes homes sold the first half of this year. 123 homes sold under $1,000,000 which was 34.8% of sales (130 last year at 42.3% of sales), 174 homes sold between $1,000,000 and $2,000,000 which was 49.3% of sales (135 homes last year at 44.1% of sales ) and 56 homes sold over $2,000,000 which was 15.9% of sales (42 homes last year at 13.6% of sales). The first six months of this year had less Palos Verdes homes sold in the under $1,000,000 range and more sales in the $1,000,000-$2,000,000 and over $2,000,000 range.
The total valuation for all single family Palos Verdes homes sold the first six months of 2013 increased to $492,114,951 from $416,102,358 in the first six months of 2012. In the first half of 2013, the highest priced home sold for $5,000,000 in Palos Verdes Estates, the lowest price home sold for $225,000 in Rancho Palos Verdes ($525,000 in Eastview). Next, we will look at sales in the individual Palos Verdes neighborhoods.
Photo courtesy of Arvin Design
