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City of Rancho Palos Verdes January 2014 Single Family Real Estate Market Report

The real estate market in the City of Rancho Palos Verdes has slowed a bit over the last several months. The level of inventory of homes for sale of 64 homes at the end of January is up about 15% compared to the end of January last year. The average number of homes sold per month over the last 3 months of 28 homes per month, is 13% lower than the comparable 3 month period last year. There are only 19 homes in escrow at the end of January. Click here for a current search of homes for Sale in Rancho Palos Verdes.
 
 
 
       
  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 64 54 18.5% 64 49 30.6% 65 57 14%
Sold 28 24 16.7% 28 33 -15.2% 28 32 -12.5%
Pended 19 23 -17.4% 19 39 -51.3% 22 32 -31.2%
 
 
The following is a list of the 28 homes sold during the month of January 2014:
 

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

6039 Via Sonoma $3,250,000 5 6.00 5,346 $607.93 1969 PV13233732 1/20/14 64
2160 Via Colinita $350,000 0 1.00 663 $527.90 2013 SB13209129 1/10/14 39
30203 Kingsridge DR $1,100,000 3 3.00 2,481 $443.37 1964 PV13181038 1/23/14 139
3073 Crest RD $1,152,100 5 4.00 3,322 $346.81 1972 PV13239662 1/03/14 9
28077 Palos Verdes E DR E $1,495,000 3 5.00 2,625 $569.52 1970 PV13224310 1/07/14 66
4520 Palos Verdes DR E $2,100,000 5 6.00 4,570 $459.52 1976 PV13144472 1/29/14 192
30638 Ganado DR $1,435,000 4 3.00 3,168 $452.97 1968 PV13239884 1/31/14 53
3745 Vigilance DR $910,000 3 3.00 1,906 $477.44 1965 SB13246703 1/31/14 5
6600 Sea Cove DR $4,200,000 6 7.00 7,895 $531.98 1989 13726017 1/07/14 9
51 Paseo Del La Luz $5,400,000 5 8.00 7,699 $701.39 1999 SB13130013 1/28/14 189
51 Via Del Cielo $6,080,000 5 8.00 8,547 $711.36 2008 PV12154567 1/14/14 363
17 Oceanaire DR $1,375,000 4 3.00 2,781 $494.43 1961 PV13189879 1/07/14 84
5819 Ocean Terrace DR $1,515,000 4 3.00 3,600 $420.83 1982 PV13194614 1/23/14 121
24 San Clemente DR $1,750,000 4 4.00 2,920 $599.32 1987 PV13121408 1/03/14 120
39 Via Porto Grande $1,820,000 5 5.00 4,331 $420.23 1995 PV13155291 1/03/14 108
6321 Villa Rosa DR $842,000 3 2.00 1,434 $587.17 1962 PV13228691 1/03/14 34
6944 Clovercliff DR $975,000 4 2.00 2,016 $483.63 1963 PV13209428 1/17/14 87
29504 Stonecrest RD $1,000,000 5 3.00 2,468 $405.19 1964 13713685 1/02/14 22
5722 Sunmist DR $1,100,000 4 3.00 2,448 $449.35 1964 PV13215786 1/10/14 74
4909 Delacroix RD $1,099,000 5 3.00 2,440 $450.41 1966 SB13228567 1/10/14 132
5040 Browndeer LN $1,210,000 5 3.00 2,440 $495.90 1966 PV13239559 1/14/14 45
26842 Fond Du Lac RD $815,000 3 2.00 1,868 $436.30 1962 SB13230498 1/13/14 21
26865 Basswood AV $857,500 3 2.00 1,460 $587.33 1958 PV13233677 1/30/14 74
26215 Grayslake RD $940,000 4 2.00 1,890 $497.35 1961 SB13233417 1/22/14 20
1902 Trudie DR $553,000 3 1.00 1,084 $510.15 1950 SB13231559 1/02/14 22
2056 Van Karajan DR $682,000 3 3.00 2,029 $336.13 1963 NP13232879 1/09/14 39
27604 Avenida Del Mesa $800,000 4 2.00 1,902 $420.61 1961 PV13219858 1/30/14 93
Average                         $1,659,467 4.0 3.60 3,160 $507                                      82

 
 
 
 
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $507 is approx. 13% higher than 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 521.4 476.2 9.5% 521.4 441.9 18% 506.5 446.9 13.3%
 

 

The average list price of homes offered for sale of $2.6 million is now 7% higher than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.5 million over the last 3 months.This indicates 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 2564 2478 3.5% 2564 2393 7.1% 2565 2227 15.2%
Avg. Sold Price 1631 1399 16.6% 1631 1114 46.4% 1470 1157 27.1%
 
Properties have been taking about 2 to 3 months to sell and sold for 93% of the original list price
 
With 64 homes currently for sale, and sales averaging 28 homes per month,there is currently a bit over 2 months of inventory
 
 
Combined with low interest rates, now is an excellent time to consider buying a home.
 
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 • February 15 2014 12:25PM

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