Palos Verdes real estate was strong in 2017 with increases in average sales price, median sales price, and price per square foot!   Median sales price in 2017 increased 4.3%.  2017 average sales price for Palos Verdes homes was $1,756,196 compared to $1,695,655 in 2016 – an increase of 3.6%.  Average price per square foot for Palos Verdes homes sold in 2017 was $638 compared to $612 in 2017 – an increase of 4.3%.  There were 8 less single family Palos Verdes homes sold in 2017 – 684 single family Palos Verdes homes sold in 2017 compared to 692 homes in 2016 – there has been a lack of inventory of Palos Verdes homes for the past few years.

The mix of Palos Verdes homes sales for 2017 again showed less sales under $1,000,000.  In 2017, 76 Palos Verdes homes sold for under $1,000,000 (compared to 109 homes in 2016).  In 2017, 445 Palos Verdes homes sold between $1,000,000 and $2,000,000 (compared to 440 homes in 2016).  In 2017, 153 Palos Verdes homes sold between $2,000,000 and $5,000,000 (compared to 127 homes in 2016).  Finally, in 2017, 10 Palos Verdes homes sold over $5,000,000 (compared to 14 homes in 2016).  The most expensive home sold in 2017 for $13,840,000 compared to $11,950,000 in 2016.

Next week, I will discuss 2017 sales by neighborhood for all of the Palos Verdes Peninsula.

To read my article on Palos Verdes homes sales in 2017, click here.

Photo of Palos Verdes coastline courtesy of Arvin Design