Palos Verdes Homes 2021 Neighborhood Sales
In my January 14, 2022, article, I discussed the overall sales numbers for single family Palos Verdes homes sold in 2021 with increases in the number of homes sold (22.5%), average sales price (22.1%) and average price per square foot (21.5%). Inventory of Palos Verdes homes for sale was historically low last year and multiple offers became the “norm” 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.
The City of Rolling Hills posted the largest gain in average sales price – $5,072,081 for 2021 compared to $3,546,308 in 2020; Monte Malaga was second with an average sales price of $3,560,199 in 2021 compared to $2,725,018 in 2020. All other Palos Verdes neighborhoods showed significant gains in average sales price for 2021 except Silver Spur which posted the smallest increase in average sales price – $1,522,620 for 2021 compared to $1,512,606 in 2020.
All Palos Verdes neighborhoods posted gains in average square foot price in 2021. The City of Rolling Hills posted the largest gain in average square foot price for Palos Verdes homes sold – a 38.2% increase – $1,109 in 2021 from $803 in 2020. Palos Verdes Drive South had the smallest increase in square foot price (6.3%) from $748 in 2020 to $795 in 2021. Homes in the City of Rolling Hills sold for the highest price per square foot – $1,109.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in 2021 – 90 Palos Verdes houses (92 homes in 2020). Both Silver Spur and Crest posted the biggest gains in home sales – Silver Spur had 67 homes sales in 2021 compared to 43 in 2020 and Crest had 45 home sales in 2021 compared to 25 in 2020. Lunada Bay/Margate, Monte Malaga, Malaga Cove, Valmonte, City of Rolling Hills, Palos Verdes Drive South, West Palos Verdes, Country Club, Los Verdes, Peninsula Center, and Eastview/RPV also had gains in Palos Verdes homes sales. Palos Verdes Drive East had the largest decrease in number of homes sold in 2021 – 67 homes sold compared to 76 homes sold in 2020.
The total valuation of single family Palos Verdes homes sold in 2021 was $2,141,840,408. The highest priced single family Palos Verdes home sold for $16,680,000 in the City of Rolling Hills and the lowest priced Palos Verdes homes sold for $1,000,000 (Silver Spur) and $745,000 (Eastview). 2021 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 2021!”
Above chart courtesy of RE/MAX Estate Properties