Palos Verdes Homes 2015 Neighborhood Sales
In my January 22, 2016, article, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2015 with an increase in the number of homes sold (8.6%), an increase in the average sales price (4.0%), median price (5.8%) and price per square foot (7.1%). Inventory of Palos Verdes homes for sale was about the same last year and multiple offers were common as buyers sought to purchase Palos Verdes homes. 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 City of Rolling Hills posted the largest gain in average sales price – $3,851,474 for 2015 compared to $3,412,734 in 2014; Monte Malaga was second with an average sales price of $3,116,542 in 2015 compared to $2,829,452 in 2014. Valmonte, Lunada Bay, La Cresta and Malaga Cove neighborhoods also showed significant gains in average sales price for 2015. The Palos Verdes Drive East, Palos Verdes Drive South, Country Club, Los Verdes, Crest, Silver Spur and Eastview neighborhoods also showed gains in average sales price. West Palos Verdes posted the largest decrease in average sales price – $2,300,254 for 2015 compared to $2,615,356 in 2014.
All neighborhoods posted gains in average square foot price in 2015. Palos Verdes Drive South and Palos Verdes Drive East posted the largest gains in average square foot price for Palos Verdes homes sold – a 13.4% increase 12.8% respectively. Palos Verdes Drive South increased to $665 in 2015 from $586 in 2014 and Palos Verdes Drive East increased to $508 in 2015 compared to $450 in 2014. Valmonte showed the smallest increase in square foot price (.3%) from $656 in 2014 to $657 in 2015. Homes in the City of Rolling Hills sold for the highest price per square foot – $831.
Lunada Bay posted the largest number of Palos Verdes homes sold in 2015 – 80 Palos Verdes houses (77 homes in 2014). Valmonte posted the biggest gain in home sales – 56 in 2015 compared to 34 in 2014. All other Palos Verdes neighborhoods had an increase in number of homes sold in 2015 except West Palos Verdes and Palos Verdes Drive North which remained exactly the same as in 2014 and Palos Verdes Drive East (61 homes in 2015 from 62 homes in 2014) and Silver Spur (52 homes in 2015 from 55 homes in 2014) had decreases.
The total valuation of single family Palos Verdes homes sold in 2015 was over $1,200,000,000. The highest priced single family Palos Verdes home sold for $15,550,000 (Palos Verdes Estates) and the lowest priced Palos Verdes home sold for $495,000 (Rancho Palos Verdes) and was located in Eastview RPV. 2015 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 Values Up In 2015!”
Above chart courtesy of RE/MAX Estate Properties
