First. a stunning photograph and a little Wikipedia history about this Los Angeles County peninsula filled with grand ocean views, soaring cliffs and rolling hills:
Rancho Palos Verdes (sometimes abbreviated RPV) is a city in Los Angeles County, California that was incorporated on September 7, 1973. The population was 41,643 at the 2010 census. Rancho Palos Verdes translates from Spanish as Green Mast Farm or Green Pole Farm, referring to the North American tree species Parkinsonia florida (blue palo verde).
Rancho Palos Verdes is an affluent suburb of Los Angeles. Sitting atop the Palos Verdes Hills and bluffs of the Palos Verdes Peninsula, it is known for expansive views of the Pacific Ocean. The history of Rancho Palos Verdes dates back to the Spanish explorers and the establishment of the first Spanish rancho land grant in California. Its most notable geographic features are the Palos Verdes Hills and cliffs with grand vistas of the Pacific Ocean, with views of Santa Catalina Island. Its most notorious geographic feature is the continuous landslide at Portuguese Bend which may have been caused in part by septic runoff from homes in Rancho Palos Verdes and its neighboring communities.
Over 200 single family homes sold in Rancho Palos Verdes in 2011. Breakdown by price is as follows:
Under $1,000,000: 194 Single family homes sold.
$1,000,000-$2,000,000: 119 RPV single family homes sold.
$2,000,000-$5,000,000: 17 Rancho Palos Verdes high-end luxury homes sold in this price range.
Over $5,000,000: 4 RPV luxury homes sold during 2011 for more than $5M.
46 Rancho Palos Verdes homes are in escrow.
There are currently just over 100 Rancho Palos Verdes homes listed for sale. Based on this rate of absorption there is less than three months of inventory available for Rancho Palos Verdes home buyers. Sellers, 2012 appears to be the best year since 2007 to sell your Palos Verdes home.
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