The number of homes listed for sale in the City of Palos Verdes Estates dropped significantly at the end of 2011, and remains very low. with only 37 homes listed for sale at the end of the third quarter, which is 52% lower than the end of the 3rd quarter a year ago. The average number of homes sold per month during this same period has also increased , averaging 12 sales per month, the same as the prior years 3rd quarter. This equates to only about 3 months of inventory.The number of homes in escrow at the end of the quarter is 13 homes.

 
 
 
 
 
 
 
 
       
  Sep. 12 Aug. 12 Curnt vs. Prev Month % Change Sep. 12 Sep. 11 Curnt vs. Same Month 1 Yr Ago% Change Jul. 12 to Sep. 12 Jul. 11 to Sep. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 37 40 -7.5% 37 79 -53.2% 40 78 -48.7%
Sold 10 15 -33.3% 10 9 11.1% 12 12 0%
Pended 13 9 44.4% 13 12 8.3% 12 13 -7.7%
 
 
 
 

The average price per square foot over the last 3 months has been $546 per sq. ft., a decrease of approx. 9% over the comparable period last year. The overall market appears to have stabilized. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.

 
 
 
 
 
 
 
       
  Sep. 12 Aug. 12 Curnt vs. Prev Month % Change Sep. 12 Sep. 11 Curnt vs. Same Month 1 Yr Ago % Change Jul. 12 to Sep. 12 Jul. 11 to Curnt vs. Same Qtr 1 Yr Ago Sep. 11 % Change
Avg. Sq. Ft. Price 553 536 3.1% 553 499 10.7% 546 503 8.5%
 
 
 
The average days on market for homes sold during the 3rd quarter 2012 was about 3 to 4 months.   The percentage of list price for homes sold is approx. 93%.
 
 
 
The average list price of homes for sale rose significantly during the 3 quarter. to approx. $2,9 million. The average sold price of approx. $1,7 million during the 3rd quarter dropped in September, but is still approx. 25% higher than the comparable quarter last year. This does show that the lower priced homes are selling faster than the higher priced homes.
 
 
 
 
 
 
       
  Sep. 12 Aug. 12 Curnt vs. Prev Month % Change Sep. 12 Sep. 11 %Curnt vs. Same Month 1 Yr Ago  Change Jul. 12 to Sep. 12 Jul. 11 to Sep. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2885 2855 1.1% 2885 2384 21% 2785 2351 18.5%
Avg. Sold Price 1626 1882 -13.6% 1626 1205 34.9% 1795 1441 24.6%
 
 
 
 
 
 
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 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.

 
This post has been included in California Real Estate News Los Angeles County, CA Real Estate News Palos Verdes Estates, CA Real Estate News Lunada Bay (Palos Verdes Estates, CA) Real Estate News
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2 Comments on City of Palos Verdes Estates 3rd Quarter 2012 Real Estate Market Report

OCT
10
453,979 Points 18 Featured Posts Called Shot Master

Thanks for the info Maureen, lots of nice graphs and an amazing photo too.
4:33pm • #1
423,432 Points 9 Featured Posts Outside Blog Called Shot Master

Maureen - Another excellent real estate market report for the City of Palos Verdes Estates area.  Your report is loaded with information and is a great resource for buyers and sellers.  Well done!
5:11pm • #2

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Palos Verdes Real Estate Blog - Maureen Megowan (Remax Estate Properties - DRE #01368971) Rainmaker_large

Palos Verdes Real Estate Blog - Maureen Megowan

Palos Verdes Estates, CA

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Remax Estate Properties - DRE #01368971

Address: 63 Malaga Cove Plaza, Palos Verdes Estates, CA, 90274

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Cell Phone: (310) 259-7124

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Information about the real estate and home markets of the beach communities of the South Bay of Los Angeles and the Palos Verdes Peninsula. Palos Verdes homes for sale and South Bay Los Angeles real estate. I strive to be the best real estate agent / realtor in the cities of Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Redondo Beach, Torrance, Manhattan Beach, Hermosa Beach, San Pedro and El Segundo.l


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