Maureen Megowan's Blog


City of Rancho Palos Verdes February 2015 Real Estate Market Report

The level of inventory of homes for sale of 81 homes in the City of Rancho Palos Verdes at the end of February is up about 33% compared to the end of February last year. The average number of homes sold per month over the last 3 months of 22 homes per month, is the same as during the comparable 3 month period last year. There are 40 homes in escrow at the end of February, forecasting strong sales over the next two months .

The following is a list of the 20 homes sold during the month of February 2015:


The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $516 which is approx. 6% higherr than the comparable period last year.
The average list price of homes offered for sale of $2.1 million is now 16% 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 7% decrease 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 93% of the original list price
With 81 homes currently for sale, and sales averaging 22 homes per month,there is currently approx. 4 months of inventory. The chart below is based upon the most recent months sales.
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 . 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 04:11PM


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