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Rolling Hills Estates 2nd Qtr. 2014 Real Estate Market Report

The City of Rolling Hills Estates Real Estate Market, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City, had shown relatively strong sales.

The number of homes for sale at the end of June of 22 homes is now 5% higher than the same time last year. The average number of homes sold per month in the 2nd quarter of 11 is 10% higher than the comparable quarter last year primarily due to very low inventory at the beginning of the year. This equates to about 2 months inventory.At the end of June, there were 10 homes in escrow.

 

 
       
  Jun. 14 May. 14 Curnt vs. Prev Month % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Ago % Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 22 20 10% 22 21 4.8% 20 19 5.3%
Sold 7 17 -58.8% 7 8 -12.5% 11 10 10%
Pended 13 12 8.3% 13 6 116.7% 14 7 100%
 
 
The chart below is based on the latest months sales only.
 
 
 
 
 
 
Horse Jumping at Dapplegray
 
 
The most recent quarterly average price per sq. ft. of properties sold of $514 per s.f. showed a 4% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago.
 
       
  Jun. 14 May. 14 Curnt vs. Prev Month % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Ago % Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 519.6 546.4 -4.9% 519.6 479.8 8.3% 514.1 495.8 3.7%
 
 
 
 
 
 
As noted below, the average time to sell a home in Rolling Hills Estates has averaged approx. 1 to 2 months during the 2nd quarter. The average percentage of sales price to original list price has also averaged about 99%.
 
 
 
 
The average list price for homes for sale at the end of the 2nd quarter 2014 of approx. $2.0 million is 22% greater than this time last year. The average sale price for homes during the 2nd quarter of $1.6 million is 20% higher than last year but shows that lower priced homes are selling faster than higher priced homes.
 
 
 
       
  Jun. 14 May. 14 Curnt vs. Prev Month % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Ago % Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 1979 1980 -0.1% 1979 1621 22.1% 1959 1656 18.3%
Avg. Sold Price 1750 1673 4.6% 1750 1139 53.6% 1601 1339 19.6%
 
 
With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.

 

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

1 commentMaureen Megowan • July 26 2014 03:44PM
Rolling Hills Estates 2nd Qtr. 2014 Real Estate Market Report
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