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Palos Verdes Peninsula ( All Cities ) January 2013 Single Family Real Estate Market Report

The average number of properties listed for sale for the overall Palos Verdes Peninsula at the end of January is approx. 50% lower than the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 52 over the last 3 months is about 18% higher than the comparable period last year . Pending sales in escrow have been strong , with 66 homes in escrow at the end of January, forecating continuing strong sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.
 
 
 
 
 
 
       
  Jan. 13 Dec. 12 % Change Curnt vs. Prev Month Jan. 13 Jan. 12 % Change Curnt vs. Same Month 1 Yr Ago Nov. 12 to Jan. 13 Nov. 11 to Jan. 12 % Change Curnt vs. Same Qtr 1 Yr Ago
For Sale 95 102 -6.9% 95 190 -50% 108 190 -43.2%
Sold 48 59 -18.6% 48 34 41.2% 52 44 18.2%
Pended 66 43 53.5% 66 39 69.2% 56 40 40%
 
 
 

The average price per sq. ft. for homes sold over the last 3 months of $481 per sq. ft. is up 5% from the same compared to the comparable period last year.

 
       
  Jan. 13 Dec. 12 % Change Curnt vs. Prev Month Jan. 13 Jan. 12 % Change Curnt vs. Same Month 1 Yr Ago Nov. 12 to Jan. 13 Nov. 11 to Jan. 12 % Change Curnt vs. Same Qtr 1 Yr Ago
Avg. Sq. Ft. Price 471 487 -3.2% 471 508 -7.2% 481 459 4.8%

Based on the average monthly sales of 52 homes over the last 3 months, the current inventory of 95 homes for sale equates to less than a 2 months inventory

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.3 million, down approx. 3% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $2.7 million has been rising steadily over the last 9 months and shows that the lower priced homes are selling faster than the higher priced homes.

 
 
       
  Jan. 13 Dec. 12 % Change Curnt vs. Prev Month Jan. 13 Jan. 12 % Change Curnt vs. Same Month 1 Yr Ago Nov. 12 to Jan. 13 Nov. 11 to Jan. 12 % Change Curnt vs. Same Qtr 1 Yr Ago
Avg. Active Price 2741 2744 -0.1% 2741 2106 30.2% 2671 2184 22.3%
Avg. Sold Price 1238 1416 -12.6% 1238 1578 -21.5% 1321 1357 -2.7%

Days on Market to sell a property has been averaging approx. 2 to 3 months, but has increased a bit over the last three months, and properties are selling at approx. 94% of original list price.

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 • February 10 2013 03:00PM
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