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City of Palos Verdes Estates January 2014 Real Estate Market Report

There are 34 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of January, which is about 79% higher than this time a year ago. 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 3 months of inventory, historically very low.The number of homes in escrow at the end of January is 10 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.

 
 

 

 
       
  Jan. 14 Dec. 13 Curnt vs. Prev Month % Change Jan. 14 Jan. 13 Curnt vs. Same Month 1 Yr Ago % Change Nov. 13 to Jan. 14 Nov. 12 to Jan. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 34 26 30.8% 34 19 78.9% 31 25 24%
Sold 11 16 -31.2% 11 7 57.1% 13 11 18.2%
Pended 10 11 -9.1% 10 17 -41.2% 10 11 -9.1%
 

 

The following is a list of the 11 homes sold in the City of Palos Verdes Estates during the month of January 2014:

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

508 Via Pena $1,100,000 3 2.00 1,470 $748.30 1954 SB13219558 1/06/14 18
817 Tyburn RD $1,135,000 3 2.00 1,876 $605.01 1958 PV13177878 1/22/14 136
505 Cloyden RD $1,300,000 4 3.00 2,516 $516.69 1972 13659861 1/02/14 158
2639 Via Carrillo $1,445,000 3 2.00 2,130 $678.40 1955 PV13199485 1/22/14 105
1728 Via Boronada $1,770,000 5 4.00 3,097 $571.52 1968 PV13139939 1/03/14 156
2541 Via Sanchez $1,781,000 5 3.00 3,480 $511.78 1980 PW13222936 1/22/14 80
1804 Paseo Del Mar $3,250,000 4 4.00 3,696 $879.33 1971 PV13247971 1/29/14 36
1696 Via Coronel $5,750,000 5 9.00 9,422 $610.27 1984 V11103759 1/08/14 866
1657 Via Arriba $1,825,000 3 3.00 1,964 $929.23 1955 PV13246420 1/22/14 25
1012 Palos Verdes DR W $2,357,000 4 4.00 4,817 $489.31 2005 PV13233966 1/22/14 126
4309 Via Nivel $1,650,000 4 3.00 2,131 $774.28 1949 PV13240793 1/14/14 11
Average                    $2,123,909 4.0 3.50 3,327 $602                                      156

 

 

 

 

The average price per square foot over the last 3 months has been $602 per sq. ft., an increase of approx. 7% over the comparable period last year.

 
 
 
       
  Jan. 14 Dec. 13 Curnt vs. Prev Month % Change Jan. 14 Jan. 13 Curnt vs. Same Month 1 Yr Ago % Change Nov. 13 to Jan. 14 Nov. 12 to Jan. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 638.4 609.9 4.7% 638.4 568.6 12.3% 602.5 563.9 6.8%
 
The average days on market for homes sold during last 3 months was about 2 to 3 months. The percentage of list price for homes sold is approx. 92%.
 
 
The average list price of homes for sale at the end of January is approx. $3.5 million. This is 9% higher than a year ago. The average sold price of approx. $1.9 million during the last three months is 17% higher than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
 
       
  Jan. 14 Dec. 13 Curnt vs. Prev Month % Change Jan. 14 Jan. 13 Curnt vs. Same Month 1 Yr Ago % Change Nov. 13 to Jan. 14 Nov. 12 to Jan. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 3449 3761 -8.3% 3449 3162 9.1% 3365 3063 9.9%
Avg. Sold Price 2123 1906 11.4% 2123 1284 65.3% 1940 1650 17.6%
 
 
 
With 34 homes listed for sale at the end of January, and average sales per month over the last 3 months of 13 homes sold, this equates to a bit less 3 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 1 commentMaureen Megowan • February 14 2014 03:46PM

Comments

Thanks for sharing another fine report. Have a terrific day ahead.

Posted by David Saks over 4 years ago

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