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City of Palos Verdes Estates November 2013 Real Estate Market Report

There are 32 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of November, which is about 3% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is 27% higher than sales during the same period last year . This equates to a bit more than 2 months of inventory, historically very low.The number of homes in escrow at the end of November, however, is only 11 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.

 

 
 

 

 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 32 42 -23.8% 32 33 -3% 38 37 2.7%
Sold 13 12 8.3% 13 12 8.3% 14 11 27.3%
Pended 11 16 -31.2% 11 11 0% 14 12 16.7%
 

 

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

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

1740 Palos Verdes DR W $998,750 3 2.00 2,000 $499.38 1954 PV13136729 11/08/13 111

1629 Via Zurita $1,145,000 4 2.00 2,194 $521.88 1960 SB13117370 11/21/13 16

2124 Via Estudillo $1,800,000 4 3.00 3,352 $536.99 1975 PV13166634 11/04/13 18

999 Paseo La Cresta $6,200,000 7 8.00 10,484 $591.38 1999 PV13040079 11/26/13 416

2440 Via Sonoma $1,355,000 3 2.00 2,427 $558.30 1956 PV13177829 11/26/13 82

804 Via Conejo $1,500,000 3 3.00 2,555 $587.08 1967 PV13182875 11/20/13 28

561 Via Del Monte $1,600,000 3 2.00 2,524 $633.91 1950 SB13214136 11/20/13 31

537 Via Del Monte $1,650,000 4 3.00 3,424 $481.89 1958 SB13053393 11/08/13 22

2544 Via Anita $1,395,000 5 3.00 2,761 $505.25 1961 PV13172968 11/01/13 102

3101 Via La Selva $1,499,000 3 4.00 2,285 $656.02 1960 PV13193716 11/13/13 60

Average                     $1,914,275 4.0 3.20 3,401 $557                         124

 

 

The average price per square foot over the last 3 months has been $611 per sq. ft., an increase of approx. 3% over the comparable period last year.

 

 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 563 581.9 -3.2% 563 580.2 -3% 611.3 592.6 3.2%
 
 
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 November is approx. $3.0 million. This is 2% higher than a year ago. The average sold price of approx. $1.8 million during the last three months is about 5% less than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2953 2744 7.6% 2953 2905 1.7% 2798 2786 0.4%
Avg. Sold Price 1826 1484 23% 1826 1926 -5.2% 1786 1881 -5.1%
 
 
 
 
 
With 32 homes listed for sale at the end of November, and average sales per month over the last 3 months of 14 homes sold, this equates to a bit over 2 months of inventory. 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 0 commentsMaureen Megowan • December 18 2013 04:50PM

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