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City of Palos Verdes Estates July 2013 Real Estate Market Report

The number of homes listed for sale in the City of Palos Verdes Estates had dropped significantly over the first part of 2013, but has increased substantially over the last four months , with 40 homes listed for sale at the end of July, but the number of homes listed for sale is about 9% lower than this time a year ago. The number of homes sold over the last 3 months, averaging 18 sales per month, is 6% higher than sales during the same period last year . This equates to a bit over 2 months of inventory, historically very low.The number of homes in escrow at the end of July is 17 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Properly priced homes are often receiving multiple offers in this market. Make sure and scroll down to see entire report below.

 
 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Jul. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 40 45 -11.1% 40 44 -9.1% 44 45 -2.2%
Sold 24 15 60% 24 10 140% 18 17 5.9%
Pended 17 20 -15% 17 14 21.4% 17 14 21.4%

 

The following is a list of the 24 homes sold in the City of Palos Verdes Estates during the month of July 2013:

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

1748 Palos Verdes DR W      $900,000 4 2.00 1,522 $591.33 1954 SR13073967    7/22/13    46

1525 Palos Verdes DR W      $925,000 3 2.00 1,388 $666.43 1954 SB13108603    7/30/13     7

2132 Via Rivera                   $995,000 3 2.00 1,616 $615.72 1958 PV13114994    7/31/13    39

1709 Espinosa CR             $1,085,000 3 2.00 1,583 $685.41 1956 SB13083138    7/16/13    66

1732 Palos Verdes DR W   $1,120,000 3 2.00 1,873 $597.97 1955 SB13088659    7/12/13    10

2124 Via Rivera                $1,159,000 3 2.00 1,813 $639.27 1954 PV13110178    7/16/13    24

1517 Espinosa CR             $1,197,000 4 3.00 2,141 $559.08 1958 PV13095706    7/05/13    31

2541 Via Sanchez             $1,300,000 5 3.00 3,300 $393.94 1980 SB13066020    7/02/13    20

2129 W Palos Verdes DR   $1,417,500 4 4.00 3,437 $412.42 1956 PV13056121    7/29/13   108

1539 Via Coronel              $1,503,700 5 5.00 4,234 $355.15 1978 PV13051477    7/23/13   113

228 Rocky Point RD          $1,525,000 4 3.00 2,198 $693.81 1956 SB13072208    7/18/13    80

2805 Via Alvarado            $1,550,000 4 2.00 2,446 $633.69 1962 SB13036137    7/09/13   130

3000 Paseo Del Mar          $3,525,000 4 5.00 4,550 $774.73 2012 PV13065055    7/31/13    31

1217 Granvia Altamira      $1,170,000 3 3.00 2,084 $561.42 1956 PV13031583    7/08/13     9

1548 Granvia Altamira      $1,370,000 4 4.00 2,150 $637.21 1966 SB13119732    7/30/13    32

1315 Via Gabriel               $1,475,000 4 3.00 3,133 $470.79 1962 PV13076793    7/10/13    34

2232 Via Guadalana          $1,860,000 4 3.00 2,540 $732.28 1999 PV13091697    7/02/13    46

915 Via Panorama             $5,000,000 6 5.00 4,677 $1,069.06 1967 SB13061906 7/30/13    65

1704 Via Coronel               $6,850,000 5 7.00 10,000 $685.00 2004 SB13104259 7/26/13   716

1705 Via Montemar            $1,700,000 4 3.00 3,066 $554.47 1927 PV13064844   7/31/13   232

4017 Via Nivel                   $1,090,000 2 2.00 1,441 $756.42 1948 PV13093420    7/02/13   18

4045 Via Pima                   $1,173,260 3 2.00 1,471 $797.59 1954 PV13116771    7/25/13     3

3620 Via La Selva              $1,299,000 3 2.00 1,658 $783.47 1952 SB13102850    7/31/13   22

2545 Via Anita                   $1,395,000 4 2.00 2,002 $696.80 1961 SB13077566    7/03/13   66

Average                            $1,774,353 4.0 3.00 2,763 $601                                                81

 

 
 

The average price per square foot over the last 3 months has been $601 per sq. ft., an increase of approx. 8% 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.

 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Jul. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 642.1 575.7 11.5% 642.1 569.3 12.8% 600.9 556 8.1%
 
The average days on market for homes sold during last 3 months was about 2 months. The percentage of list price for homes sold is approx. 96%.
 
 
The average list price of homes for sale at the end of July increased to approx. $2.8 million. This is the first monthly increase after decreasing for 5 consecutive month, but is still 4% higher than a year ago. The average sold price of approx. $1.8 million during the last three months is approx. 2% lower than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Jul. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2791 2693 3.6% 2791 2572 8.5% 2727 2627 3.8%
Avg. Sold Price 1774 1839 -3.5% 1774 1828 -3% 1777 1810 -1.8%
 
The following chart of months of inventory is based upon the most recent months sales
 
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 1 commentMaureen Megowan • August 09 2013 10:45AM

Comments

Thanks for the update and this important information. Hopes for your continued success.

Posted by David Saks over 5 years ago

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