The average number of properties listed for sale for the overall Palos Verdes Peninsula during the last 3 months is approx. 39% lower than the comparable period last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 54 over the last 3 months is about 4% higher than the comparable period last year .
 
 
       
  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 166 164 1.2% 166 265 -37.4% 168 274 -38.7%
Sold 57 59 -3.4% 57 43 32.6% 54 52 3.8%
Pended 62 53 17% 62 44 40.9% 58 53 9.4%
 
There are 62 homes in escrow at the end of September, forecasting continuing strong sales over the next two months.
 
The average monthly price per sq. ft. of $465 per sq. ft. for single family homes sold on the Palos Verdes Peninsula has been relatively stable over the last year, and is up approx. 1% over the 3rd quarter 2011.
 
 
 
 
       
  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. Sq. Ft. Price 458 453 1% 458 464 -1.4% 465 462 0.8%

 

Based on the average monthly sales of 54 homes over the last 3 months, the current inventory of 166 homes for sale equates to a 3 months inventory

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.3 million, up approx. 3% compared to the average price of homes sold in the comparable period last year, after having taken a large drop in February 2012. The average listing price for homes during the last 3 months of $2.3 million shows 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 2269 2267 0.1% 2269 2198 3.2% 2259 2163 4.4%
Avg. Sold Price 1273 1357 -6.2% 1273 1362 -6.5% 1320 1280 3.1%
 
 
 
 

Days on Market to sell a property has been averaging approx. 3 months, and properties are selling at approx. 93% of original list price.
For other market reports for the Palos Verdes Peninsula, go toMarket Reportson mywebsite.

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.

 

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Palos Verdes Real Estate Blog - Maureen Megowan

Palos Verdes Estates, CA

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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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