Palos Verdes Homes 2019 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 2019 with the number of homes sold (with 295 in 2019, from 350 in 2018), an increase in the average sales price (2.7%), and an increase in the average price per square foot (1.5%). There is still a high demand for Palos Verdes homes and multiple offers are 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 City of Rolling Hills posted the largest gain in average sales price for Palos Verdes homes – $4,475,988 for the first half of 2019 compared to $2,773,456 in the first half of 2018 for a 61% gain, followed by Malaga Cove (21%) and Palos Verdes Drive East (17%). Lunada Bay/Margate, Palos Verdes Drive North, Valmonte, Mira Catalina, and Eastview/RPV also showed gains in average sales price the first half of 2019. Palos Verdes Drive South area of Rancho Palos Verdes posted the largest decrease in average sales price – $1,789,091 in the first half of 2019 compared to $2,448,833 in 2018 (-27%).
All neighborhoods, except Lunada Bay, Palos Verdes Drive South, West Palos Verdes, Country Club, La Cresta, Crest, and Peninsula Center posted gains in average square foot price in the first half of 2019. Rolling Hills and Palos Verdes Drive North posted the largest gains in average square foot price for Palos Verdes homes sold – a 53.8% and 13% increase respectively. The City of Rolling Hills increased to $1,022 in 2019 from $664 the first half of 2018 and Palos Verdes Drive North increased to $671 in 2019 from $594 the first half of 2018. Average square footage price in Palos Verdes Drive South posted the largest decrease (29.6%) – $612 in 2019 compared to $870 the first half of 2018.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in the first half of 2019 – 40 Palos Verdes houses. Palos Verdes Drive North also posted the biggest gain in home sales – 40 homes in the first half of 2019 compared to 33 homes in 2018. Monte Malaga, Mira Catalina, and Los Verdes also had an increase in the number of Palos Verdes homes sold the first half of 2019.
Chart courtesy of RE/MAX Estate Properties
