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

The real estate market in the City of Rancho Palos Verdes has slowed over the last several months. The level of inventory of homes for sale of 72 homes at the end of April is up about 22% compared to the end of April last year. The average number of homes sold per month over the last 3 months of 22 homes per month, is 37% lower than the comparable 3 month period last year. There are 30 homes in escrow at the end of April. Click here for a current search of homes for Sale in Rancho Palos Verdes.
 
 
        Ago
  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 % Change
For Sale 72 67 7.5% 72 59 22% 66 57 15.8%
Sold 24 28 -14.3% 24 40 -40% 22 35 -37.1%
Pended 30 35 -14.3% 30 39 -23.1% 28 37 -24.3%
 
 
 
 
The following is a list of the 24 homes sold during the month of April 2014:
 

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

29060 Clevis RD $1,203,000 4 3.00 2,134 $563.73 1959 SB14059961 4/29/14 15
2457 Rue Le Charlene $1,455,000 4 3.00 3,140 $463.38 1969 SB14047353 4/30/14 24
3 Via Del Cielo $4,000,000 4 5.00 4,932 $811.03 2006 PV14048888 4/22/14 43
30212 Calle De Suenos $1,150,000 4 3.00 2,620 $438.93 1971 PV14043467 4/17/14 17
30971 Via La Cresta $2,300,000 4 4.00 4,238 $542.71 1987 SB14018557 4/01/14 64
25 Oceanaire DR $1,425,000 4 3.00 2,188 $651.28 1961 PV14038267 4/14/14 50
7002 Willowtree DR $995,000 3 2.00 2,036 $488.70 1963 SB14059392 4/21/14 39
6755 Kings Harbor DR $1,040,000 5 4.00 2,788 $373.03 1971 PV14053108 4/09/14 3
28058 Braidwood DR $1,050,000 4 3.00 2,143 $489.97 1964 SB14021672 4/11/14 39
6940 Starstone DR $1,110,000 5 3.00 2,242 $495.09 1963 SB14013441 4/30/14 85
29034 Warnick RD $1,250,000 5 4.00 3,429 $364.54 1970 PV14009741 4/16/14 232
28929 Indian Valley RD $1,008,486 5 3.00 2,468 $408.62 1964 PW13196819 4/15/14 178
29110 Doverridge DR $1,244,500 5 4.00 2,904 $428.55 1968 SB14008002 4/14/14 73
29323 Stadia Hill LN $1,640,000 4 3.00 2,676 $612.86 1968 PV14011106 4/25/14 23
5538 Shoreview DR $846,000 3 2.00 1,395 $606.45 1958 PV14043628 4/01/14 29
26932 Fond Du Lac RD $879,000 3 2.00 1,395 $630.11 1958 SB14038957 4/22/14 25
26636 Shadow Wood DR $899,100 3 2.00 1,684 $533.91 1961 SB14047044 4/15/14 6
5430 Bayridge RD $942,000 3 2.00 1,390 $677.70 1956 PV14046227 4/22/14 39
26712 Shorewood RD $950,000 3 2.00 1,668 $569.54 1958 PV14041596 4/30/14 56
5727 Capeswood DR $1,300,000 3 3.00 2,083 $624.10 1961 PV14027057 4/01/14 9
1924 Jaybrook DR $635,000 3 1.00 1,516 $418.87 1950 SB14027948 4/17/14 66
29532 Bernice DR $674,000 4 2.00 1,817 $370.94 1955 SB14028364 4/15/14 60
28642 Mount Shasta DR $692,000 3 3.00 1,768 $391.40 1973 SB14029459 4/01/14 57
2021 Avenida Aprenda $850,000 3 2.00 1,806 $470.65 1959 SB14043775 4/25/14 46
Average                 $1,230,754 4.0 2.80 2,353 $523                                             53

 
 
 
 
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $503 is approx. 15% higher than 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 523.1 521.2 0.4% 523.1 466.6 12.1% 502.7 438 14.8%
 
 
 
The average list price of homes offered for sale of $2.1 million is now 18% lower than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.3 million over the last 3 months.This indicates 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 2088 2320 -10% 2088 2544 -17.9% 2308 2602 -11.3%
Avg. Sold Price 1230 1350 -8.9% 1230 1211 1.6% 1269 1154 10%
 
 
Properties have been taking about 2 months to sell and sold for 96% of the original list price
 
With 72 homes currently for sale, and sales averaging 22 homes per month,there is currently a bit over 3 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 1 commentMaureen Megowan • May 20 2014 03:51PM

Comments

Great market report, thanks for sharing.

Have a Big day,

Randy

Posted by Randy Shamburger, FHA, VA, USDA and Conventional Mortgage Expert (Movement Mortgage) about 4 years ago

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