Palos Verdes Homes 2014 Neighborhood Sales
In my last post, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2014 with a decrease in the number of homes sold (-9.7%), but with an increase in the average sales price (15.7%), median price (7.1%) and price per square foot (7.7%). Even though inventory of Palos Verdes homes for sale was up a bit last year, multiple offers were common as buyers sought to purchase homes in Palos Verdes. 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 Malaga Cove area of Palos Verdes Estates posted the largest gain in average sales price – $2,844,966 for 2014 compared to $2,004,958 in 2013; Rolling Hills was a close second with an average sales price of $3,414,445 in 2014 compared to $2,600,204 in 2013. Lunada Bay/Margate, Monte Malaga, PV Drive North, Mira Catalina, PV Drive South and West Palos Verdes neighborhoods also showed significant gains in average sales price for 2014. The Palos Verdes Drive East, Country Club, La Cresta, Los Verdes, Crest, Peninsula Center, Silver Spur and Eastview neighborhoods also showed gains in average sales price. Valmonte posted the largest decrease in average sales price – $1,354,765 for 2014 compared to $1,513,765 in 2013 even though 2014 average price per square foot was up 6.3% to $656.
All neighborhoods, except Peninsula Center, posted gains in average square foot price in 2014. Malaga Cove and Mira Catalina both posted the largest gains in average square foot price for Palos Verdes homes sold – a 20.6% increase 16.5% respectively. Malaga Cove increased to $784 in 2014 from $650 in 2013 and Mira Catalina increased to $513 in 2014 compared to $440 in 2013. Peninsula Center showed the largest decrease in square foot price (2.5%) from $482 in 2013 to $470 in 2014.
Lunada Bay posted the largest number of Palos Verdes homes sold in 2014 – 75 Palos Verdes houses (82 homes in 2013). Malaga Cove posted the biggest gain in home sales – 31 in 2014 compared to 24 in 2013. West Palos Verdes, Valmonte and Palos Verdes Drive North also had an increase in number of homes sold in 2014 while Country Club and Eastview/RPV remained exactly the same as in 2013.
The total valuation of single family Palos Verdes homes sold in 2014 was over one billion dollars. The highest priced single family Palos Verdes home sold for $13,500,000 (Palos Verdes Estates) and the lowest priced Palos Verdes home sold for $530,000 (Rancho Palos Verdes) and was located in Eastview RPV. 2014 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 Prices Up In 2014!”
Above chart courtesy of RE/MAX Estate Properties
