Palos Verdes Homes 2020 Neighborhood Sales
In my January 23, 2020, article, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2020 with increases in the number of homes sold (4.9%), average sales price (12.1%) and average price per square foot (4.2%). Inventory of Palos Verdes homes for sale was historically low 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.
Palos Verdes Drive South posted the largest gain in average sales price – $2,582,720 for 2020 compared to $1,855,346 in 2019; La Cresta was second with an average sales price of $2,361,489 in 2020 compared to $1,945,806 in 2019. The West Palos Verdes, Lunada Bay, Silver Spur, Country Club, Malaga Cove, Palos Verdes Drive North, and Valmonte neighborhoods also showed significant gains in average sales price for 2020. The Monte Malaga, Peninsula Center, Los Verdes, Crest, Eastview, and Palos Verdes Drive East neighborhoods also showed gains in average sales price. The City of Rolling Hills posted the largest decrease in average sales price – $3,546,308 for 2020 compared to $3,783,480 in 2019.
All but 3 neighborhoods posted gains in average square foot price in 2020. Palos Verdes Drive South posted the largest gain in average square foot price for Palos Verdes homes sold – a 28.3% increase – $748 in 2020 from $583 in 2019. The City of Rolling Hills had the largest decrease in square foot price (11.3%) from $905 in 2019 to $803 in 2020. Homes in Valmonte sold for the highest price per square foot – $831.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in 2020 – 92 Palos Verdes houses (84 homes in 2019). Both Palos Verdes Drive East and the City of Rolling Hills posted the biggest gains in home sales – Palos Verdes Drive East 76 in 2020 compared to 60 in 2019 and The City of Rolling Hills 33 in 2020 compared to 18 in 2019. La Cresta, Palos Verdes Drive North, Palos Verdes Drive South, Country Club, Peninsula Center, Eastview, Monte Malaga, Mira Catalina, and Los Verdes also had gains in Palos Verdes homes sales. All other Palos Verdes neighborhoods had a decrease in number of homes sold in 2020.
The total valuation of single family Palos Verdes homes sold in 2020 was $1,424.702,554. The highest priced single family Palos Verdes home sold for $10,500,000 in the Palos Verdes Drive South neighborhood and the lowest priced Palos Verdes homes sold for $882,500 (Silver Spur) and $730,000 (Eastview). 2020 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 Sales Up In 2020!”
Above chart courtesy of RE/MAX Estate Properties