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City of Rancho Palos Verdes April 2016 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 April is down about 11% compared to the end of April last year. The average number of homes sold per month over the last 3 months of 28 homes per month, is down 16% compared to the same 3 month period last year. There are 43 homes in escrow at the end of April.

 
 
 
The following is a list of the 32 homes sold during the month of  April 2016:

 

 
 
 
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $528  is down 4% from the comparable period last year.
 
 
The average list price of homes offered for sale of $2.4 million is now 16% higher 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, 10% higher than the comparable period last year. Lower priced homes have been selling faster than the higher priced homes.
 
 
 
 
 
 
 
Properties have been taking 2 to 3 months to sell and sold for 95% of the original list price
 
 
With 81 homes currently for sale, and sales averaging 28 homes per month,there is currently about 3 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 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 • May 25 2016 03:59PM

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