Palos Verdes Homes 2019 Neighborhood Sales
In my January 17, 2020, article, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2019 with small increases in the number of homes sold (.9%) and average price per square foot (.3%), and a decrease in the average sales price (1.3%). Inventory of Palos Verdes homes for sale was low again 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.
Lunada Bay posted the largest gain in average sales price – $2,229,637 for 2019 compared to $2,063,384 in 2018; Malaga Cove was second with an average sales price of $2,978,188 in 2019 compared to $2,853,256 in 2018. The Mira Catalina, Palos Verdes Drive East, Palos Verdes Drive North, and Crest neighborhoods also showed significant gains in average sales price for 2019. The Monte Malaga, Los Verdes, and Peninsula Center neighborhoods also showed gains in average sales price. Country Club posted the largest decrease in average sales price – $1,788,870 for 2019 compared to $2,173,723 in 2018.
All but 6 neighborhoods posted gains in average square foot price in 2019. The City of Rolling Hills posted the largest gain in average square foot price for Palos Verdes homes sold – a 25.8% increase – $915 in 2019 from $727 in 2018. Palos Verdes Drive South had the largest decrease in square foot price (29.7%) from $831 in 2018 to $584 in 2019. Homes in The City of Rolling Hills sold for the highest price per square foot – $915.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in 2019 – 81 Palos Verdes houses (56 homes in 2018). Both Malaga Cove and Valmonte posted the biggest gains in home sales – Valmonte 47 in 2019 compared to 41 in 2018 and Malaga Cove 26 in 2019 compared to 20 in 2018. Palos Verdes East, West Palos Verdes, Crest, and Eastview also had gains in Palos Verdes homes sales. All other Palos Verdes neighborhoods had a decrease in number of homes sold in 2019 except for La Cresta and Los Verdes which were the same.
The total valuation of single family Palos Verdes homes sold in 2019 was $1,193,826,891. The highest priced single family Palos Verdes home sold for $15,500,000 in the City of Rolling Hills and the lowest priced Palos Verdes homes sold for $850,000 (Palos Verdes Drive East) and $680,000 (Eastview). 2019 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 Home Up In 2019!”
Above chart courtesy of RE/MAX Estate Properties