Palos Verdes Homes 2017 Neighborhood Sales First Half
In my article two weeks ago, I discussed the overall sales numbers for single family Palos Verdes homes sold in the first half of 2017 with the number of homes sold (almost the same as last year 345 vs 348), an increase in the average sales price (3.8%) and and increase in the average price per square foot (2.7%). Even though inventory of Palos Verdes homes increased a bit, 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 Monte Malaga area of Palos Verdes Estates posted the largest gain in average sales price for Palos Verdes homes – $2,828,304 for the first half of 2017 compared to $2,001,962 in the first half of 2016 for a 41.3% gain, followed by Lunada Bay (31%) and Los Verdes (12.9%). Palos Verdes Drive North, Valmonte, Palos Verdes Drive East, Mira Catalina, Palos Verdes Drive South, Peninsula Center, Silver Spur, and Eastview/RPV also showed gains in average sales price the first half of 2017. West Palos Verdes area of Rancho Palos Verdes posted the largest decrease in average sales price – $2,132,143 in the first half of 2017 compared to $3,559,857 in 2016 (-40.1%).
All neighborhoods, except Malaga Cove, Valmonte, West Palos Verdes, La Cresta and Crest posted gains in average square foot price in the first half of 2017. Peninsula Center and Mira Catalina posted the largest gains in average square foot price for Palos Verdes homes sold – a 15.3% and 9.0% increase respectively. Peninsula Center increased to $612 in 2017 from $531 the first half of 2016 and and Mira Catalina increased to $587 in 2017 from $539 the first half of 2016. Square footage price in Malaga Cove posted the largest decrease 28.9% – $714 in 2017 from $1,003 the first half of 2016.
Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in the first half of 2017 – 42 Palos Verdes houses. Monte Malaga posted the biggest gain in home sales – 23 homes in the first half of 2017 compared to 13 homes in 2016. Lunada Bay, Malaga Cove, Valmonte, Palos Verdes Drive East, Country Club, Los Verdes, and Crest, and Silver Spur also had an increase in the number of Palos Verdes homes sold the first half of 2017.
Chart courtesy of RE/MAX Estate Properties
