Maureen Megowan's Blog


City of Palos Verdes Estates February 2015 Real Estate Market Report 

There are 38 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of February, which is 3% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 10 sales per month, is down 17% compared to the same period last year . This equates to a bit under 4 months of inventory, based on the average sales per month over the last 3 months, historically very low.There are 16  homes in escrow at the end of February. Properly priced homes are often receiving multiple offers in this market. 

The following is a list of the 9 homes sold in the City of Palos Verdes Estates during the month of February 2015:




The average price per square foot over the last 3 months has been $808 per sq. ft., an increase of approx. 30% over the comparable period last year.

The average days on market for homes sold during last 3 months was about 3 to 5 months. The percentage of list price for homes sold is approx. 94%.
The average list price of homes for sale at the end of February is approx. $2.9 million. This is 23% lower than a year ago. The average sold price of approx. $2.3 million during the last three months is 23% higher than the comparable 3 months last year. 
With 38 homes listed for sale at the end of February, and average sales per month over the last 3 months of 10 homes sold, this equates to a bit under 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 . 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 • March 14 2015 03:56PM


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