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City of Palos Verdes Estates January 2013 Real Estate Market Report

 
 
The following is a list of the 11 homes sold during the month of January 2012:
 

Address   Sales Price Bd Bth Sqft $/Sq Yr. Built ML# Sold Date Days on Market

 

2872 Via De La Guerra  $940,000 3 2.00 1,617 $581.32 1956 PV12138536   1/31/13     22

2640 Via Pacheco          $995,000 3 2.00 1,477 $673.66 1953 PV12135722   1/14/13    75

1000 Via Romero $       1,275,000 4 3.00 2,344 $543.94 1965 PV12147023   1/07/13    23

2108 Paseo Del Mar    $2,255,000 4 3.00 2,250 $1,002   1956 PV12144304   1/23/13    24

1116 Via Nogales           $914,000 4 2.00 1,760 $519.32 1952 SB12134149   1/09/13    21

1620 Via Montemar     $1,575,000 5 5.00 4,425 $355.93 1959 V11082416     1/14/13   529

4109 Via Picaposte      $1,035,000 3 2.00 1,937 $534.33 1950 SB12128283    1/04/13   58

Average               $1,284,143 4.0 2.70 2,259 $602                          107

The number of homes listed for sale in the City of Palos Verdes Estates has dropped significantly over the last 3 months with only 17 homes listed for sale at the end of January, which is 66% lower than the same time a year ago. The number of homes sold over the last 3 months, averaging 10 sales per month, is 29% less than sales during the same period last year primarily due to the lack of inventory. This equates to less than 2 months of inventory.The number of homes in escrow at the end of the quarter is 18 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Due to the low inventory of homes, properly priced homes are often receiving multiple offers in this market. Make sure and scroll down to see entire report below.

 
       
  Jan. 13 Dec. 12 % ChangeCurnt 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 17 22 -22.7% 17 50 -66% 23 53 -56.6%
Sold 7 12 -41.7% 7 15 -53.3% 10 14 -28.6%
Pended 18 6 200% 18 8 125% 11 11 0%
 
 
 
 

The average price per square foot over the last 3 months has been $564 per sq. ft., an increase of approx. 10% over the comparable period last year. The overall market appears to have stabilized. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.

 
 
 
 
 
       
  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 569 545 4.4% 569 550 3.3% 564 513 10%
 
 
 
The average days on market for homes sold during last 3 months was about 2 to 4 months. The percentage of list price for homes sold is approx. 94%.
 
 
The average list price of homes for sale at the end of January is aprox. $2.9 million. The average sold price of approx. $1.6 million during the last three months is approx. 14% higher than the comparable 3 months last year, but decreased substantially in January to $1.3 million. This 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 2899 3004 -3.5% 2899 2670 8.6% 2878 2667 7.9%
Avg. Sold Price 1284 1559 -17.6% 1284 1734 -26% 1639 1434 14.3%
 
 
 
 
 
 
 
 
With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.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 06:23PM

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