2015 was a good year for Palos Verdes real estate with increases in average sales price, median price, price per square foot and number of homes sold! 704 single family Palos Verdes homes sold in 2015 compared to 648 homes in 2014 – a 8.6% increase. 2015 average sales price for Palos Verdes homes was $1,720,905 compared to $1,655,419 in 2014 – an increase of 4.0%. Average price per square foot for Palos Verdes homes sold in 2015 was $601 compared to $561 in 2014 – an increase of 7.1%. Median sales price in 2015 increased 5.8%.
The mix of Palos Verdes homes sales for 2015 showed more sales in the higher end and less sales under $1,000,000. In 2015, 122 Palos Verdes homes sold for under $1,000,000 (compared to 137 homes in 2014). In 2015, 431 Palos Verdes homes sold between $1,000,000 and $2,000,000 (compared to 375 homes in 2014). In 2015, 131 Palos Verdes homes sold between $2,000,000 and $5,000,000 (compared to 113 homes in 2014). Finally, in 2015, 20 Palos Verdes homes sold over $5,000,000 (compared to 16 homes in 2014). The most expensive home sold in 2015 for $15,550,000 compared to $13,500,000 in 2014.
Next week, I will discuss 2015 sales by neighborhood for all of the Palos Verdes Peninsula.
To read my article on Palos Verdes homes sales in 2014, click here.
Photo of Palos Verdes coastline courtesy of Arvin Design
