Palos Verdes Homes 2022 Neighborhood Sales First Half
In my article last week, I discussed the overall sales numbers for single family Palos Verdes homes sold in the first half of 2022 with the number of homes sold (357 in 2021, from 413 in 2021), an increase in the average sales price (15.1%), and an increase in the average price per square foot (19.3%). There is a high demand for Palos Verdes homes and, even though inventory has grown, we are still seeing multiple offers. 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.
Monte Malaga posted the largest gain in average sales price for Palos Verdes homes – $4,580,188 for the first half of 2022 compared to $3,216,586 in the first half of 2021 for a 42% gain, followed by West Palos Verdes ($967,672 gain or 37.6%) and La Cresta ($790,360 gain or 31%). All other neighborhoods showed gains in average sales price the first half of 2022 except The City of Rolling Hills ($4,388,9288 2022 compared to $5,134,133 in 2022) and Palos Verdes Drive South ($2,440,729 in 2022 compared to $2,670,445 in 2021).
All Palos Verdes neighborhoods posted gains in average square foot price in the first half of 2022. Lunada Bay/Margate and La Cresta posted the largest gains in average square foot price for Palos Verdes homes sold – 38.3% and 34.5% increase respectively. The Lunada Bay/Margate increased to $1,116 in 2022 from $807 the first half of 2021, and La Cresta increased to $901 in 2022 from $670 the first half of 2021.
Palos Verdes Drive North posted the largest number of Palos Verdes homes sold in the first half of 2022 – 42 Palos Verdes houses. Eastview RPV posted the biggest gain in home sales – 36 homes in the first half of 2022 compared to 21 homes in 2021. Palos Verdes Drive East and Palos Verdes Drive North also had increases in the number of Palos Verdes homes sold the first half of 2022. Lunada Bay/Margate and Country Club had exactly the same both years.
First half of 2022 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 2022.”
Chart courtesy of RE/MAX Estate Properties