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City of Rancho Palos Verdes August 2014 Real Estate Market Report

The level of inventory of homes for sale of 117 homes in the City of Rancho Palos Verdes at the end of August is up about 41% compared to the end of August last year. The average number of homes sold per month over the last 3 months of 38 homes per month, is 5% lower than the comparable 3 month period last year. There are 42 homes in escrow at the end of August . Click here for a current search of homes for Sale in Rancho Palos Verdes.

 
 
 
 
 
 
 
       
  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 117 120 -2.5% 117 83 41% 111 78 42.3%
Sold 35 48 -27.1% 35 41 -14.6% 38 40 -5%
Pended 42 32 31.3% 42 35 20% 39 38 2.6%
 
The following is a list of the 35 homes sold during the month of August 2014:
 

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

28745 Enrose AV $680,000 4 3.00 2,162 $314.52 1956 13715223 8/26/14 112

1808 Peninsula Verde DR $690,000 3 2.00 1,895 $364.12 1970 PV14099052 8/26/14 99

28712 Mount Rose RD $749,126 4 3.00 1,859 $402.97 1974 SB14139539 8/07/14 28

29625 Whitley Collins DR $850,000 4 2.00 1,697 $500.88 1967 SW14130386 8/25/14 21

6039 Flambeau RD $885,000 3 2.00 1,660 $533.13 1959 PV14151298 8/18/14 22

5908 Finecrest DR $900,000 3 2.00 1,662 $541.52 1959 SB14049973 8/20/14 108

12 Saddle RD $910,000 3 3.00 2,099 $433.54 1957 PV14129096 8/08/14 27

28116 Golden Meadow DR $950,000 4 2.00 1,816 $523.13 1962 PV14150328 8/26/14 16

5205 Sunny Point PL $955,000 3 3.00 2,409 $396.43 1959 SB14142097 8/10/14 22

4403 Miraleste DR $970,000 3 2.00 2,281 $425.25 1953 PV14011226 8/27/14 188

27424 Elmbridge DR $975,000 4 3.00 2,148 $453.91 1965 PV14130608 8/01/14 9

6411 Via De Anzar $1,040,000 4 3.00 2,279 $456.34 1969 SB14126609 8/29/14 67

26926 Diamondhead LN $1,060,000 4 2.00 1,834 $577.97 1965 PV14049029 8/20/14 99

28111 Braidwood DR $1,074,000 4 2.00 1,973 $544.35 1964 PV14142889 8/15/14 28

3610 Vigilance DR $1,075,000 3 3.00 1,906 $564.01 1964 SB14111810 8/15/14 20

29743 Knoll View DR $1,100,000 4 3.00 2,176 $505.51 1964 PV14092203 8/07/14 92

5606 Sunmist DR $1,100,000 5 3.00 2,468 $445.71 1965 PV14142911 8/21/14 23

5050 Golden Arrow $1,110,000 4 3.00 2,447 $453.62 1967 SB14119775 8/15/14 69

28313 Plainfield DR $1,125,000 4 3.00 2,032 $553.64 1963 SB14124018 8/06/14 30

2266 Sparta DR $1,139,000 3 3.00 2,378 $478.97 1960 PV14149187 8/26/14 29

6822 Verde Ridge RD $1,230,000 4 3.00 2,301 $534.55 1973 PV14092119 8/26/14 94

3485 Newridge DR $1,240,000 3 3.00 1,898 $653.32 1973 SW14154235 8/21/14 31

4313 Miraleste DR $1,275,000 4 3.00 3,269 $390.03 1956 PV14154224 8/18/14 6

6027 Montemalaga DR $1,325,000 5 4.00 3,610 $367.04 1979 PV14102371 8/22/14 48

3678 Vigilance DR $1,375,000 5 3.00 2,478 $554.88 1964 PV14127629 8/04/14 6

3849 Pirate DR $1,381,000 4 3.00 2,435 $567.15 1964 SB14133031 8/13/14 49

7307 Via Lorado $1,446,900 4 4.00 2,981 $485.37 1963 PV14119948 8/25/14 72

7051 Crest $1,520,000 3 3.00 2,808 $541.31 1964 PV14114046 8/29/14 92

30322 Rhone DR $1,525,000 4 2.00 2,677 $569.67 1961 PV14131064 8/07/14 5

7155 Crest RD $1,560,000 5 4.00 3,425 $455.47 1966 PV14104030 8/14/14 80

5809 Ocean Terrace DR $1,575,000 4 4.00 3,467 $454.28 1981 PV14114795 8/25/14 72

6410 Via Baron $1,699,000 4 5.00 4,645 $365.77 1984 PV14081341 8/15/14 116

5287 Rolling Ridge Rd RD $1,822,000 3 2.00 1,898 $959.96 1952 PV14123307 8/04/14 52

6788 Alta Vista DR $1,920,000 5 4.00 3,685 $521.03 1979 PV14133296 8/15/14 53

7 Marguerite DR $7,000,000 6 8.00 7,778 $899.97 1999 SB14173623 8/29/14 463

Average                   $1,349,458 4.0 3.10 2,587 $522 1966                                          67

 

 
 
 
 
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $509 is approx. 9% higher than 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 521.7 518.2 0.7% 521.7 483.2 8% 508.9 466.3 9.1%
 
The average list price of homes offered for sale of $1.9 million is now 17% lower than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.4 million over the last 3 months, a 13% increase over the comparable period last year.This indicates that the lower priced homes are selling faster than the higher priced homes.
 
 
 
 
 
 
 
Properties have been taking about 2 to 3 months to sell and sold for 96% of the original list price
 
 
With 117 homes currently for sale, and sales averaging 38 homes per month,there is currently 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 • September 11 2014 12:53PM

Comments

Maureen -  You really show potential clients why you are a local real estate expert when it comes to the City of Ranch Palos Verdes with your detailed real estate market reports.  I hope buyers and sellers call you for more information and help!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) about 4 years ago

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