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City of Palos Verdes Estates November 2014 Real Estate Market Report 

There are 53 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of November, which is 66% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is the same as compared to the same period last year . This equates to between 3 and 4 months of inventory, based on the average sales per month over the last 3 months, historically very low.There are 10  homes in escrow at the end of November. Properly priced homes are often receiving multiple offers in this market. 
 
 
 

The following is a list of the 11 homes sold in the City of Palos Verdes Estates during the month of November 2014:

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

4008 Via Cardelina $1,237,500 3 2.00 1,588 $779.28 1948 PV14207597 11/20/14 94

1249 Via Romero $1,575,000 4 3.00 2,224 $708.18 1959 PV14218501 11/17/14 12

1332 Via Gabriel $1,620,000 3 3.00 2,420 $669.42 1957 PV14199248 11/07/14 9

509 Paseo Lunado $1,637,459 3 2.00 2,289 $715.36 1954 PV14224912 11/26/14 6

1313 Via Romero $1,700,000 4 5.00 3,928 $432.79 1980 SB14095865 11/26/14 147

936 Via Del Monte $1,860,000 3 4.00 2,098 $886.56 1960 PV14171883 11/10/14 53

4220 Via Pinzon $2,060,000 5 4.00 3,774 $545.84 2010 SR14151238 11/03/14 106

2141 Chelsea RD $2,185,000 4 5.00 3,536 $617.93 1950 PV14213571 11/13/14 40

916 Via Del Monte $2,300,000 4 4.00 4,443 $517.67 1973 PV13015200 11/18/14 649

2020 Paseo Del Mar $6,000,000 7 7.00 7,871 $762.29 2000 PV14043173 11/18/14 260

1821 Paseo Del Sol $7,550,000 5 6.00 7,497 $1,007.07 2003 SB14036149 11/24/14 279

Average                        $2,702,269 4.0 4.10 3,788 $713 1972                                            146

 

The average price per square foot over the last 3 months has been $770 per sq. ft., an increase of approx. 26% over the comparable period last year.

 
The average days on market for homes sold during last 3 months was about 3 months, however the homes sold in November averaged about 5 to sell. The percentage of list price for homes sold is approx. 92%.
 
 
The average list price of homes for sale at the end of November is approx. $2.8 million. This is 7% lower than a year ago. The average sold price of approx. $2.9 million during the last three months is 62% higher than the comparable 3 months last year. 
 
 
 
With 53 homes listed for sale at the end of November, and average sales per month over the last 3 months of 14 homes sold, this equates to between 3 and 4 months of inventory. The following chart of months of inventory is based upon the most recent month's sales.
 
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 • December 09 2014 02:45PM

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