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Rolling Hills Estates 4th Qtr. 2014 Real Estate Market Report

The City of Rolling Hills Estates Real Estate Market, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City, had shown relatively strong sales.

The number of homes for sale at the end of December of 18 homes is now 260% higher than the 5 homes for sale at the same time last year. The average number of homes sold per month in the 4th quarter of 8 is the same as during the comparable quarter last year.This equates to a little more than 2 months inventory. At the end of December there were 4 homes in escrow.

 

The chart below is based on the latest months sales only.
 
 
 
 
 
 
Horse Jumping at Dapplegray
 
 
The most recent quarterly average price per sq. ft. of properties sold of $597 per s.f. showed a 18% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago.
 
 
 
 
As noted below, the average time to sell a home in Rolling Hills Estates has averaged approx. 2 to 3 months during the 4th quarter. The average percentage of sales price to original list price has also averaged about 95%.
 
 
 
 
The average list price for homes for sale at the end of the 4th quarter 2014 of approx. $1.8 million is 14% lower than this time last year. The average sale price for homes during the 4th quarter of $2.2 million is much higher than last year due to the sale in October of 3 high priced homes. Generally the lower priced homes have been selling faster than higher priced homes but that has changed over the last 3 months.
 
 
 
With continuing low interest rates and sellers in a negotiating mood, now is an excellenttime to purchase a home. For more market information, see 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 • January 10 2015 05:02PM

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