The number of homes listed for sale in the City of Palos Verdes Estates dropped significantly at the end of 2011, and remains extremely low. with only 22 homes listed for sale at the end of the fourth quarter, which is 46% lower than the end of the 4th quarter a year ago. The average number of homes sold per month during this same period has stayed about the same as last year's 4th quarter, averaging 11 sales per month. This equates to only about 2 months of inventory.The number of homes in escrow at the end of the quarter is 6 homes.
The average price per square foot over the last 3 months has been $582 per sq. ft., an increase of approx. 17% 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.
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Dec. 12 |
Nov. 12 |
% Change Curnt vs. Prev Month |
Dec. 12 |
Dec. 11 |
% Change Curnt vs. Same Month 1 Yr Ago |
Oct. 12 to Dec. 12 |
Oct. 11 to Dec. 11 |
% Change Curnt vs. Same Qtr 1 Yr Ago |
| Avg. Sq. Ft. Price |
545 |
580 |
-6.1% 
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545 |
534 |
2% 
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582 |
499 |
16.6%
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The average days on market for homes sold during the 4th quarter 2012 was about 2 to 3 months. The percentage of list price for homes sold is approx. 96%.
The average list price of homes for sale rose significantly in December to approx. $3.0 million. The average sold price of approx. $1.8 million during the 4th quarter dropped in December, but is still approx. 35% higher than the comparable quarter last year. This does show that the lower priced homes are selling faster than the higher priced homes.
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Dec. 12 |
Nov. 12 |
% Change Curnt vs. Prev Month |
Dec. 12 |
Dec. 11 |
% Change Curnt vs. Same Month 1 Yr Ago |
Oct. 12 to Dec. 12 |
Oct. 11 to Dec. 11 |
% Change Curnt vs. Same Qtr 1 Yr Ago |
| Avg. Active Price |
3004 |
2741 |
9.6%
|
3004 |
2801 |
7.2%
|
2814 |
2620 |
7.4%
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| Avg. Sold Price |
1559 |
1926 |
-19.1%
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1559 |
1543 |
1%
|
1759 |
1300 |
35.3%
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With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.
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