Maureen Megowan's Blog

head_left_image

City of Rancho Palos Verdes September 2017 Real Estate Market Report

The level of inventory of homes for sale of 86 homes in the City of Rancho Palos Verdes at the end of September is down about 14% compared to the end of September last year. The average number of homes sold per month over the last 3 months of 40 homes per month, is up 14% compared to the same 3 month period last year. There are 42 homes in escrow at the end of September, showing continuing strong recent sales activity.

 
 

 

 

The following are the 120 propeties sold in Rancho Palos Verdes during the 3rd quarter of 2017:

 
 
 
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $575 is up 5% over the comparable period last year.
 
 
The average list price of homes offered for sale of $2.3 million is now 14% higher than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.4 million over the last 3 months, 4% higher than the comparable period last year. Lower priced homes have been selling faster than the higher priced homes.
 
 
 
 
 
 
 
Properties have been taking about 1 month to sell and sold for 96% of the original list price on average over the last 3 months showing a very strong market.
 
With 86 homes currently for sale, and sales averaging 40 homes per month,there is currently just over 2 months of inventory. The chart below is based upon the most recent months sales of only 23 homes.
 
Combined with low interest rates, now is an excellent time to consider buying a home.
 
For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.

 

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.

Comment balloon 0 commentsMaureen Megowan • October 25 2017 10:40PM
City of Rancho Palos Verdes September 2017 Real Estate Market Report
share
The level of inventory of homes for sale of 86 homes in the City of Rancho Palos Verdes at the end of September is down about 14% compared to the end of September last year. The average number of homes sold per month over the last 3 months of 40… more
Palos Verdes September 2017 Condo and Townhome Real Estate Market…
share
The inventory of unsold condos and townhomes on the Palos Verdes Peninsula of 28 units at the end of September is down approx. 28% compared to this time a year ago. The average number of sales per month over the last 3 months of 18 units per month… more
Palos Verdes Peninsula September 2017 single family real estate…
share
Summary: The number of homes listed for sale on the Palos Verdes Peninsula has decreased to seasonal levels, but the number of homes on the market at the end of September is down 13%, but the number of homes sold during the last three months is up… more
Interest rates go down slightly to near 2017 lows
share
Interest rates for buying a home on the Palos Verdes Peninsula eased this week The following are excerpts from the newsletter on interest rates published by HSH Associates : "Partly due to increasingly bellicose saber-rattling between the U. S… more
Rolling Hills June 2017 Real Estate Market Report
share
The City of Rolling Hills had the following real estate market activity for single family residences during the second quarter of 2017 Properties Sold: 6 Properties for Sale as of 6/30/17: 27 Sales have been averaging 2homes sold per… more
Rolling Hills Estates June 2017 Real Estate Market Report
share
The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 29 homes at the end of June a 7% decrease from the prior year. The number of properties sold monthly over the last 3… more
City of Palos Verdes Estates June 2017 Real Estate Market Report
share
There are 78 homes listed for sale in the City of Palos Verdes Estates at the end of June, which is 10% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 18 sales per month, is 25% higher compared to the… more
City of Rancho Palos Verdes June 2017 Real Estate Market Report
share
The level of inventory of homes for sale of 92 homes in the City of Rancho Palos Verdes at the end of June is down about 19% compared to the end of June last year. The average number of homes sold per month over the last 3 months of 42 homes per… more
Palos Verdes June 2017 Condo and Townhome Real Estate Market Report
share
The inventory of unsold condos and townhomes on the Palos Verdes Peninsula of 29 units at the end of June is down approx. 24% compared to this time a year ago. The average number of sales per month over the last 3 months of 18 units per month is up… more
Palos Verdes Peninsula June 2017 single family real estate market…
share
Summary: The number of homes listed for sale on the Palos Verdes Peninsula has increased to seasonal levels, but the number of homes on the market at the end of June is down 7%, but the number of homes sold during the last three months is down 3%… more