Palos Verdes Homes 2015 Neighborhood Sales First Half
In my article last week, I discussed the overall sales numbers for single family Palos Verdes homes sold in the first half of 2015 with an increase in the numbers of homes sold (22%), an increase in the average sales price (5.5%) and and increase in the average price per square foot (9.2%). Inventory of Palos Verdes homes was on the low side and multiple offers were common. 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 for Palos Verdes homes – $3,413,429 for the first half of 2015 compared to $2,275,269 in the first half of 2014 for a 50% gain, followed by Lunada Bay/Margate (26.8%) and Monte Malaga (25%). La Cresta, Silver Spur, Valmonte, Crest, Los Verdes, and Eastview/RPV also showed gains in average sales price the first half of 2015. Mira Catalina posted the largest decrease in average sales price – $1,233,713 in the first half of 2015 compared to $1,892,020 in 2014 (34.8%).
All neighborhoods, except Mira Catalina, posted gains in average square foot price in the first half of 2015. Monte Malaga and Palos Verdes Drive South posted the largest gains in average square foot price for Palos Verdes homes sold – a 28.6% and 18.5% increase respectively. Monte Malaga increased to $821 in 2015 from $639 the first half of 2014 and and Palos Verdes Drive South increased to $655 in 2015 from $553 the first half of 2014. Square footage price in Mira Catalina decreased 3.6% – $510 in 2015 from $529 the first half of 2014.
Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in the first half of 2015 -42 Palos Verdes houses (36 homes 1st half 2014). Valmonte posted the biggest gain in home sales – 32 homes in the first half of 2015 compared to 17 homes in 2014. Monte Malaga, the City of Rolling Hills, Mira Catalina, Palos Verdes Drive South, La Cresta, Los Verdes, Crest, Peninsula Center, Silver Spur and Eastview/RPV also had an increase in the number of Palos Verdes homes sold the first half of 2015.
Chart courtesy of RE/MAX Estate Properties
