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City of Palos Verdes Estates August 2014 Real Estate Market Report 

 

 

There are 60 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of August, which is 76% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 18 sales per month, is the same as 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 August , however, is only 12 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.
 
 
 
 
 
 
 
       
  Aug. 14 Jul. 14 Curnt vs. Prev Month % Change Aug. 14 Aug. 13 Curnt vs. Same Month 1 Yr Ago % Change Jun. 14 to Aug. 14 Jun. 13 to Aug. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 60 62 -3.2% 60 34 76.5% 62 40 55%
Sold 22 20 10% 22 15 46.7% 18 18 0%
Pended 12 19 -36.8% 12 20 -40% 19 18 5.6%
 

The following is a list of the 22 homes sold in the City of Palos Verdes Estates during the month of August 2014:

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

1137 Via Coronel $1,150,000 3 2.00 1,741 $660.54 1957 OC14125087 8/29/14 70

3720 Via La Selva $1,215,000 2 2.00 1,714 $708.87 1952 PV14081105 8/20/14 109

3916 Via Valmonte $1,225,000 3 2.00 1,602 $764.67 1952 PV14114870 8/14/14 40

2521 Via Anita $1,487,500 4 3.00 2,040 $729.17 1949 PV14126455 8/20/14 65

2809 Via Rivera $1,515,000 4 3.00 2,634 $575.17 1967 PV14137018 8/01/14 11

3932 Via Solano $1,524,000 4 3.00 1,893 $805.07 1942 SB14104170 8/26/14 41

1716 Via Montemar $1,525,000 3 2.00 1,750 $871.43 1954 PV14136779 8/01/14 69

2920 Via Pacheco $1,600,000 4 4.00 2,700 $592.59 1964 PV14106796 8/14/14 85

3205 Via La Selva $1,635,000 3 3.00 3,065 $533.44 1978 PV14135453 8/13/14 47

2568 Via Sanchez $1,708,000 5 4.00 3,988 $428.28 1977 PV14107580 8/27/14 337

2429 Via Sonoma $1,715,000 4 3.00 2,500 $686.00 1956 PV14148959 8/22/14 31

1609 Margate RD $1,735,000 4 3.00 2,977 $582.80 1957 PV14131870 8/01/14 31

804 Via Somonte $1,792,000 3 3.00 2,236 $801.43 1965 SB14089227 8/08/14 267

869 Rincon LN $2,025,000 4 4.00 3,542 $571.71 1955 SB13189858 8/13/14 330

632 Via Del Monte $2,109,000 4 4.00 3,308 $637.55 1930 SB14131107 8/15/14 42

920 Via Nogales $2,149,000 3 3.00 2,300 $934.35 1958 SB14131684 8/08/14 28

1412 Via Davalos $2,300,000 5 5.00 4,480 $513.39 1978 SB14131100 8/07/14 9

588 Via Almar $2,377,500 4 3.00 3,000 $792.50 1962 PV14120772 8/26/14 43

940 Granvia Altamira $2,950,000 4 6.00 3,641 $810.22 1960 PV14120874 8/28/14 64

1533 Via Leon $3,180,000 6 5.00 5,440 $584.56 1977 PV14126105 8/14/14 58

229 Rocky Point RD $4,300,000 4 4.00 3,261 $1,318.61 1958 PV14113905 8/08/14 8

812 Via Del Monte $6,820,000 5 8.00 6,413 $1,063.46 2014 SB14142410 8/19/14 7

 

Average                           $2,183,500 4.0 3.60 3,010 $725 1962                                       81

 

The average price per square foot over the last 3 months has been $649 per sq. ft., an increase of approx. 6% over the comparable period last year.

 
 
 
 
 
       
  Aug. 14 Jul. 14 Curnt vs. Prev Month % Change Aug. 14 Aug. 13 Curnt vs. Same Month 1 Yr Ago % Change Jun. 14 to Aug. 14 Jun. 13 to Aug. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 725.3 591.7 22.6% 725.3 608.9 19.1% 649.4 614.4 5.7%
 
 
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 August is approx. $3.2 million. This is 9% higher than a year ago. The average sold price of approx. $2.0 million during the last three months is 7% higher than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
 
 
 
With 60 homes listed for sale at the end of August, and average sales per month over the last 3 months of 18 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 22 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 • September 11 2014 12:17PM

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