Maureen Megowan's Blog

head_left_image

Rolling Hills Estates 1st Qtr. 2016 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 the following real estate activity during the first quarter of 2016.

The number of homes for sale at the end of March of 15 homes is the same as the same time last year. The average number of homes sold per month in the 1st quarter of 5 is 12% lower than the comparable quarter last year.This equates to 3 months inventory. At the end of March there were 14 homes in escrow, however.

 

 
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 $625 per s.f. showed a 8% 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. 1 to 3 months during the 1st quarter. The average percentage of sales price to original list price has also averaged about 98%.
 
 
 
 
The average list price for homes for sale at the end of the 1st quarter 2016 of approx. $1.9 million is 20% higher than this time last year. The average sale price for homes during the 1st quarter of $1.7 million is approx. the same as the previous years quarter. Generally the lower priced homes have been selling faster than higher priced homes but that has changed over the last year with the average sales price nearing the average list price..
 
 
 
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 1 commentMaureen Megowan • April 12 2016 03:33PM

Comments

Love the horse properties of Rolling Hills Estates and it is always good to learn what is selling and how the market is moving in other areas of the country. Thanks for sharing.

Posted by Susan Laxson CRS, Local Knowledge & Global Network (HomeSmart Professionals) over 3 years ago

This blog does not allow anonymous comments