In my last post, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2013 with increases in number of homes sold (11%), average sales price (7%) and price per square foot (11.7%). Last year the number of buyers for Palos Verdes real estate exceeded the number of sellers and inventory was very low creating multiple offer situations in many transactions. Below is information on specific Palos Verdes neighborhoods. The chart above can be enlarged by clicking on it or go to the “Statistics” tab above.
The Crest area of Rancho Palos Verdes posted the largest gain in average sales price – $1,444,538 for 2013 compared to $1,031,158 in 2012. The Monte Malaga, Valmonte, Palos Verdes Drive South, La Cresta and Peninsula Center neighborhoods also showed significant gains in average sales price for 2013. The Malaga Cove, Palos Verdes Drive East, Los Verdes, Silver Spur, Palos Verdes Drive North and Eastview neighborhoods also showed gains in average sales price. Lunada Bay/Margate posted the largest decrease in average sales price – $1,624,373 for 2013 compared to $1,889,132 in 2012.
All neighborhoods, except the City of Rolling Hills, posted gains in average square foot price in 2013. Valmonte and Palos Verdes Drive South both posted the largest gains in average square foot price for Palos Verdes homes sold – a 24.2% increase 20.6% respectively. Valmonte increased to $617 in 2013 from $497 in 2012 and Palos Verdes Drive South increased to $556 in 2013 compared to $461 in 2012. The City of Rolling Hills showed the largest decrease in square foot price (5.5%) from $716 in 2012 to $677 in 2013.
Lunada Bay posted the largest number of Palos Verdes homes sold in 2013 – 81 Palos Verdes houses (69 homes in 2012). Los Verdes posted the biggest gain in home sales – 47 in 2013 compared to 32 in 2012. Monte Malaga, Rolling Hills, Palos Verdes Drive East, Mira Catalina, Palos Verdes Drive South, Country Club, Crest and Eastview also had an increase in number of homes sold in 2013.
The total valuation of single family Palos Verdes homes sold 2013 was over one billion dollars – $1,015,239,158! The highest priced single family Palos Verdes home sold for $8,750,000 (Palos Verdes Estates) and the lowest priced Palos Verdes home sold for $225,000 (Rancho Palos Verdes) and was located in a building moratorium area. 2013 information on the sales price mix for Palos Verdes homes sold can be obtained by clicking here or going to my prior post, “Palos Verdes Homes Sales Up!”
