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City of Palos Verdes Estates April 2014 Real Estate Market Report

There are 47 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of April, which is the same as this time a year ago. The number of homes sold over the last 3 months, averaging 13 sales per month, is also the same as sales during the same period last year . This equates to a bit more than 3 months of inventory, based on the average sales per month over the last 3 months, historically very low.The number of homes in escrow at the end of April is 14 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.
 
 
 
 
 
       
  Apr. 14 Mar. 14 Curnt vs. Prev Month % Change Apr. 14 Apr. 13 Curnt vs. Same Month 1 Yr Ago % Change Feb. 14 to Apr. 14 Feb. 13 to Apr. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 47 41 14.6% 47 47 0% 42 32 31.3%
Sold 16 14 14.3% 16 12 33.3% 13 13 0%
Pended 14 17 -17.6% 14 17 -17.6% 14 14 0%
 
 
 

 

The following is a list of the 16 homes sold in the City of Palos Verdes Estates during the month of April 2014:

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

2517 W Palos Verdes Drive W $1,120,000 3 2.00 2,054 $545.28 1958 PV13204619 4/07/14 129
1529 Palos Verdes DR W $1,218,000 3 4.00 2,295 $530.72 1960 SR14050343 4/30/14 12
1800 Via Estudillo $1,250,000 4 3.00 2,398 $521.27 1976 PV14002437 4/01/14 80
3012 Palos Verdes Dr. $1,300,000 4 3.00 2,854 $455.50 1975 WS13200532 4/03/14 226
2656 Via Valdez $1,899,000 4 3.00 3,132 $606.32 1973 PV14008237 4/11/14 73
3024 Palos Verdes DR W $2,600,000 3 4.00 3,455 $752.53 1966 PV14038633 4/04/14 30
1568 Granvia Altamira $1,270,000 3 3.00 1,879 $675.89 1974 SB13232694 4/10/14 145
2504 Novato PL $1,550,000 4 3.00 2,554 $606.89 1955 PV14023333 4/21/14 26
917 Via Mirada $1,740,000 5 4.00 3,364 $517.24 1964 PV14027117 4/22/14 7
1309 Via Gabriel $1,750,000 5 4.00 3,252 $538.13 1974 PV14028451 4/28/14 56
2413 Via Pinale $1,306,500 4 2.00 1,906 $685.47 1950 SB14047608 4/21/14 45
517 Via Media $1,585,000 3 3.00 2,073 $764.59 1955 PV14041058 4/14/14 74
3604 Via La Selva $865,000 3 2.00 1,627 $531.65 1952 SB13229094 4/10/14 242
4304 Via Nivel $1,510,000 3 3.00 1,807 $835.64 1960 PV14049219 4/17/14 27
3908 Via Picaposte $1,580,000 3 2.00 1,940 $814.43 1948 PV14065022 4/22/14 8
4405 Via Azalea $2,150,000 5 4.00 4,546 $472.94 1982 SB14033693 4/01/14 13
Average                     $1,543,344 4.0 3.10 2,571 $616                                    75

 

The average price per square foot over the last 3 months has been $589 per sq. ft., an increase of approx. 9% over the comparable period last year.

 
       
  Apr. 14 Mar. 14 Curnt vs. Prev Month % Change Apr. 14 Apr. 13 Curnt vs. Same Month 1 Yr Ago % Change Feb. 14 to Apr. 14 Feb. 13 to Apr. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 600.3 698.6 -14.1% 600.3 639.7 -6.2% 641.3 589.4 8.8%
 
 
 
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. 97%.
 
 
The average list price of homes for sale at the end of April is approx. $3.8 million. This is 34% higher than a year ago. The average sold price of approx. $1.8 million during the last three months is 8% lower than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
 
 
       
  Apr. 14 Mar. 14 Curnt vs. Prev Month % Change Apr. 14 Apr. 13 Curnt vs. Same Month 1 Yr Ago % Change Feb. 14 to Apr. 14 Feb. 13 to Apr. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 3764 3687 2.1% 3764 2812 33.9% 3731 2909 28.3%
Avg. Sold Price 1543 2187 -29.4% 1543 1792 -13.9% 1776 1933 -8.1%
 
 
 
 
 
With 47 homes listed for sale at the end of April, and average sales per month over the last 3 months of 13 homes sold, this equates to a bit more than 3 months of inventory. The following chart of months of inventory is based upon the most recent month's sales of 16 homes.
 
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 • May 20 2014 03:16PM

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