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Palos Verdes Peninsula ( All Cities ) April 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 April is approx. 22% 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 59 over the last 3 months is about 23% higher than the comparable period last year . Pending sales in escrow have been strong , with 75 homes in escrow at the end of April, forecasting 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.
 
 
 
 
       
  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 139 106 31.1% 139 178 -21.9% 117 179 -34.6%
Sold 63 69 -8.7% 63 55 14.5% 59 48 22.9%
Pended 75 72 4.2% 75 59 27.1% 68 60 13.3%

The average price per sq. ft. for homes sold over the last 3 months of $488 per sq. ft. is up 6% from the same compared to the comparable period last year.

 
 
 
 
 
       
  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 513.1 484 6% 513.1 486.1 5.5% 487.7 459.1 6.2%

Based on the average monthly sales of 59 homes over the last 3 months, the current inventory of 139 homes for sale equates to a 2 months inventory, which historically is extremely low.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.4 million, up approx. 12% 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 $2.9 million had been rising steadily over the last 10 months, however decreased slightly in April. The large difference in average list price and the average price of homes sold shows that the lower priced homes are selling faster than the higher priced homes.

 

 

       
  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. Active Price 2780 3054 -9% 2780 2273 22.3% 2900 2279 27.2%
Avg. Sold Price 1397 1362 2.6% 1397 1369 2% 1373 1226 12%

Days on Market to sell a property has been averaging approx. 3 to 4 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 • May 11 2013 02:00PM

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