Palos Verdes Homes 2021 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 2021 with the number of homes sold (410 in 2021, from 259 in 2020), a increase in the average sales price (30.5%), and an increase in the average price per square foot (26.2%). There is a high demand for Palos Verdes homes and, as inventory is low, 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 – $5,134,133 for the first half of 2021 compared to $3,196,362 in the first half of 2020 for a 60.6% gain, followed by Monte Malaga ($1,039,523 gain or 36.2%) and West Palos Verdes ($930,724 gain or 56.8%). All other neighborhoods showed gains in average sales price the first half of 2021 except Lunada Bay/Margate ($2,498,968 2021 compared to $2,515,450 in 2020) and Silver Spur ($1,408,359 in 2021 compared to $1,500,735 in 2020).
All Palos Verdes neighborhoods posted gains in average square foot price in the first half of 2021. The City of Rolling Hills and Malaga Cove posted the largest gains in average square foot price for Palos Verdes homes sold – 43.4% and 42.8% increase respectively. The City of Rolling increased to $1,043 in 2021 from $727 the first half of 2020, and Malaga Cove increased to $975 in 2021 from $683 the first half of 2020.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in the first half of 2021 – 39 Palos Verdes houses. Monte Malaga posted the biggest gain in home sales – 26 homes in the first half of 2021 compared to 6 homes in 2020. All other Palos Verdes neighborhoods had an increase in the number of Palos Verdes homes sold the first half of 2021 except Eastview RPV which had 21 sales in 2021 compared to 25 Palos Verdes homes sold in the first half of 2020. The Mira Catalina neighborhood had exactly the same both years.
First half of 2021 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 Sales 1st Half 2021.”
Chart courtesy of RE/MAX Estate Properties