Palos Verdes Homes Prices Up In 2014!
2014 was a good year for Palos Verdes real estate with increases in average sales price, median price and price per square foot! However, we had fewer homes sold. 641 single family Palos Verdes homes sold in 2014 compared to 710 homes in 2013 – a 9.7% decrease. 2014 average sales price for Palos Verdes homes was $1,654,072 compared to $1,429,872 in 2013 – an increase of 15.7%. Average price per square foot for Palos Verdes homes sold in 2014 was $561 compared to $521 in 2014 – an increase of 7.7%. Median sales price in 2014 increased 7.1%.
The mix of Palos Verdes homes sales for 2014 showed more sales in the higher end and less sales under $1,000,000. In 2014, 137 Palos Verdes homes sold for $1,000,000 or under (compared to 202 homes in 2013). In 2014, 375 Palos Verdes homes sold between $1,000,000 and $2,000,000 (compared to 407 homes in 2013). In 2014, 113 Palos Verdes homes sold between $2,000,000 and $5,000,000 (compared to 94 homes in 2013). Finally, in 2014, 16 Palos Verdes homes sold over $5,000,000 (compared to 7 homes in 2013). The most expensive home sold in 2014 for $13,500,000 compared to $8,750,000 in 2013.
Tomorrow, I will discuss 2014 sales by neighborhood for all of the Palos Verdes Peninsula.
To read my article on Palos Verdes homes sales in 2013, click here.
Photo of Point Vicente Lighthouse courtesy of Arvin Design
