The number of homes listed for sale in the City of Palos Verdes Estates during 2011 has been relatively steady, averaging 78 homes., however the number of homes for sale as of the end of 2011 dropped dramatically to only 41 homes on the market, a 48% decrease from the same time last year The average number of homes sold per month during this same period has also been very steady, averaging 15 sales per month, however the average monthly number of homes sold during the last quarter was down to 12. This equates to less than 4 months of inventory.
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The average price per square foot over the last 3 months has been $499 per sq. ft., a decrease of 12% over the comparable period last year. This decrease is primarily due to a drop in price per sq. ft. for homes sold in November, however prices for homes in December rebounded higher. 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.
Curnt vs. Prev Month | Dec. 11 | Nov. 11 | % Change |
Curnt vs. Same Month 1 Yr Ago Dec. 11 |
Dec. 10 |
% Change |
Curnt vs. Same Qtr 1 Yr Ago Oct. 11 to Dec. 11 |
Oct. 10 to Dec. 10 |
% Change |
Avg. Sq. Ft. Price | 534 | 457 | 17% | 534 | 562 | -4.9% | 499 | 565 | -11.7% |
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