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City of Rolling Hills Estates August 2012 Real Estate Market Report

 

The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) decreased substantially in December and is still only 25 homes, a 32% decrease from the prior year. The number of properties sold monthly has increased substantially over the last 3 months, averaging 10 sales a month . There are 10 homes in escrow as of the end of August. Click Here for a current search of homes for Sale in Rolling Hills Estates.  

 
 
 
 
 
 
 
 
       
  Aug. 12 Jul. 12 Curnt vs. Prev Month% Change Aug. 12 Aug. 11 Curnt vs. Same Month 1 Yr Ago% Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago% Change
For Sale 25 24 4.2% 25 32 -21.9% 23 34 -32.4%
Sold 9 4 125% 9 5 80% 10 4 150%
Pended 10 6 66.7% 10 5 100% 8 6 33.3%
 
 
 
 
The following are a list of the 9 homes sold in the City of Rolling Hills Estates during the month of August 2012:
 
Address Sales           Price Price  Bd Bth Sqft  $/Sq Yr. Built  ML#  Sold Date   Days on Market
 

27625 Eastvale RD              $865,000 3 2.00 2,052 $421.54 1956 V12070213 8/21/12                 76

44 Shady Vista RD               $900,000 4 3.00 2,685 $335.20 1963 S12064154 8/21/12                 82

5 Encanto DR                    $1,090,000 4 3.00 2,036 $535.36 1960 V12077209 8/14/12                  8

36 Empty Saddle LN           $1,450,000 4 3.00 2,719 $533.28 1968 V12070294 8/28/12                191

46 Encanto DR                   $1,475,000 4 5.00 3,610 $408.59 1960 V12068102 8/07/12                 46

4616 Sugarhill DR              $1,920,000 4 5.00 3,502 $548.26 1959 V12057831 8/07/12                 39

20 Country LN                    $1,950,000 5 4.00 4,250 $458.82 1983 V12073506 8/24/12                 28

29348 Stonecrest RD          $1,100,000 5 3.00 2,498 $440.35 1964 V12064778 8/14/12                 44

47 Silver Spring DR                $785,000 3 2.00 1,705 $460.41 1957 V12088795 8/24/12                 32

 

Average                              $1,281,667 4.0 3.30 2,784 $460                                               61

 

The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) continued to make a strong comeback since the first of the year , averaging $456 per sq. ft. over the last quarter,  an approx. 4% increase from the comparable quarter a year ago. 

 

 

 
 
 
 
 
 
       
  Aug. 12 Jul. 12 Curnt vs. Prev Month% Change Aug. 12 Aug. 11 % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 460 398 15.6% 460 454 1.4% 456 439 3.9%
 
 Horse Jumping at Dapplegray
 
Based on the average monthly sales for the last 3 months of 10 homes and the number of homes in escrow, there is currently only a 3 month inventory of unsold homes. The chart below is based on the number of sales for the month of August only.
 
   
 
The average list price of homes in Rolling Hills Estates has been steady over the last four months, however the
lower priced homes in the market are selling more rapidly.
 
 
 
The average time period to sell a home has ranged from 2 to 3 months over the last quarter, and has sold for an average of 95% of list price
 
 
 
 
 
 
My sense of the market is that it has become a relatively stable market, however buyers seem to continue to feel uneasy about the economy, and even with record low interest rates,  buyers remain cautious.

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 • September 10 2012 01:15PM

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