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City of Palos Verdes Estates April 2013 Real Estate Market Report

The following is a list of the 12 homes sold in the City of Palos Verdes Estates during the month of April 2013:
 

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

2561 Chelsea RD $1,720,000 4 2.00 2,405 $715.18 1960 PV13021043 4/17/13        87

29 Montemalaga  $1,275,000 4 3.00 2,436 $523.40 1960 PV13031751 4/24/13        49

1316 Vuelta PL    $2,225,000 4 4.00 2,860 $777.97 2013 PV13041448 4/22/13        43

2051 Via Visalia   $2,632,500 5 5.00 3,563 $738.84 1962 PV13009236 4/30/13       268

1648 Via Arriba    $1,665,000 3 3.00 3,024 $550.60 1953 V12124499  4/19/13       190

548 Via Media      $1,900,000 4 3.00 3,066 $619.70 1957 SB13035404 4/03/13        33

1641 Via Lazo      $2,325,000 5 4.00 4,069 $571.39 1975 V12122355   4/25/13       161

716 Via Somonte  $2,500,000 4 3.00 2,746 $910.42 1956 PV13040418 4/30/13        17

4016 Via Nivel         $995,000 3 2.00 1,456 $683.38 1955 PV13060912 4/30/13         5

204 Via Navajo     $1,130,000 3 2.00 1,813 $623.28 1952 SB13041084 4/15/13        36

2517 Via Anita      $1,360,000 4 3.00 2,192 $620.44 1952 PV13026853 4/09/13        20

4433 Lucera CR    $1,785,000 5 4.00 3,998 $446.47 1978 PV13020915 4/25/13       128

 

Average               $1,792,708 4.0 3.20 2,802 $648                                                  86

 

The number of homes listed for sale in the City of Palos Verdes Estates increased significantly in April to 47 homes after decreasing to only 22 homes listed for sale at the end of March, which was 57% lower than the same time a year ago. Inventory is now down only approx. 8% compared to the same time last year. The number of homes sold over the last 3 months, averaging 13 sales per month, is 18% higher than sales during the same period last year. This equates to a bit less than 4 months of inventory, still comparatively low.The number of homes in escrow at the end of April is 18 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Due to the previously very low inventory of homes, properly priced homes have been receiving multiple offers in this market. Make sure and scroll down to see entire report below.

 
 
 
 
 
 
       
  Apr. 13 Mar. 13 Curnt vs. Prev Month % Change Apr. 13 Apr. 12 Curnt vs. Same Month 1 Yr Ago % Change Feb. 13 to Apr. 13 Feb. 12 to Apr. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 47 26 80.8% 47 51 -7.8% 32 51 -37.3%
Sold 12 15 -20% 12 11 9.1% 13 11 18.2%
Pended 18 17 5.9% 18 23 -21.7% 15 16 -6.2%

The average price per square foot over the last 3 months has been $589 per sq. ft., an increase of approx. 10% over the comparable period last year. The overall market appears to be strengthening.

 
 
 
 
 
       
  Apr. 13 Mar. 13 Curnt vs. Prev Month % Change Apr. 13 Apr. 12 Curnt vs. Same Month 1 Yr Ago % Change Feb. 13 to Apr. 13 Feb. 12 to Apr. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 639.7 572.7 11.7% 639.7 554.4 15.4% 589.4 535.4 10.1%
 
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. 93%
 
 
The average list price of homes for sale at the end of April is aprox. $2.8 million. The average sold price was approx. $1.8 million during the last three months . This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
 
 
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 • May 09 2013 02:23PM

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