Palos Verdes Homes 2018 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 2018 with the number of homes sold (with 340 in 2018, from 350 in 2017), an increase in the average sales price (4.9%), and an increase in the average price per square foot (3.5%). There was a high demand for Palos Verdes homes 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 – $3,417,375 for the first half of 2018 compared to $2,162,467 in the first half of 2017 for a 58% gain, followed by Palos Verdes Drive South (34.8%) and West Palos Verdes (13.4%). Palos Verdes Drive North, Valmonte, Rolling Hills, Palos Verdes Drive East, Mira Catalina, Palos Verdes Country Club, Peninsula Center, Silver Spur, and Eastview/RPV also showed gains in average sales price the first half of 2018. Lunada Bay area of Palos Verdes Estates posted the largest decrease in average sales price – $2,206,640 in the first half of 2018 compared to $2,551,939 in 2017 (-13.5%).
All neighborhoods, except Lunada Bay & Rolling Hills posted gains in average square foot price in the first half of 2018. Palos Verdes Drive South and Malaga Cove posted the largest gains in average square foot price for Palos Verdes homes sold – a 48.4% and 23.6% increase respectively. West Palos Verdes increased to $770 in 2018 from $699 the first half of 2017 and Silver Spur increased to $684 in 2018 from $621 the first half of 2017. Square footage price in Rolling Hills posted the largest decrease (15.4%) – $664 in 2018 from $786 the first half of 2017.
Lunada Bay/Margate posted the largest number of Palos Verdes homes sold in the first half of 2018 – 39 Palos Verdes houses. La Cresta posted the biggest gain in home sales – 20 homes in the first half of 2018 compared to 14 homes in 2017. Valmonte, Rolling Hills, Palos Verdes Drive East, Palos Verdes Drive South, West Palos Verdes, Country Club, La Cresta, and Peninsula Center also had an increase in the number of Palos Verdes homes sold the first half of 2018.
First half of 2018 information on average price for Palos Verdes homes sold as well as total valuation of Palos Verdes real estate and highest/lowest home sales can be obtained by clicking here or going to my prior post, “Palos Verdes Homes Prices Up First Half 2018.”
Chart courtesy of RE/MAX Estate Properties