Palos Verdes Peninsula ( All Cities ) July 2013 Single Family Real Estate Market Report

By
Real Estate Agent with Remax Estate Properties - BRE #01368971
The average number of properties listed for sale for the overall Palos Verdes Peninsula at the end of July is approx. 22% lower than the same time 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 67 over the last 3 months is about 16% higher than the comparable period last year . Pending sales in escrow have been strong , with 74 homes in escrow at the end of July, forecasting continuing strong sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.
 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Curnt vs. Same Qtr 1 Yr Ago Jul. 12 % Change
For Sale 148 155 -4.5% 148 181 -18.2% 146 186 -21.5%
Sold 72 68 5.9% 72 46 56.5% 67 58 15.5%
Pended 74 68 8.8% 74 58 27.6% 69 56 23.2%
 
The average price per sq. ft. for homes sold over the last 3 months of $524 per sq. ft. is up 8% from the same compared to the comparable period last year and has increased for 5 consecutive months.
 
 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Jul. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 527.5 526.3 0.2% 527.5 492.4 7.1% 524.4 483.8 8.4%
 
Based on the average monthly sales of 67 homes over the last 3 months, the current inventory of 148 homes for sale equates to just a bit over a 2 months inventory, which historically is extremely low.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.5 million, up approx. 4% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $2.8 million is up approx. 25% over the comparable period last year and shows that the lower priced homes are selling faster than the higher priced homes.

 
       
  Jul. 13 Jun. 13 Curnt vs. Prev Month % Change Jul. 13 Jul. 12 Curnt vs. Same Month 1 Yr Ago % Change May. 13 to Jul. 13 May. 12 to Jul. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2764 2741 0.8% 2764 2287 20.9% 2808 2244 25.1%
Avg. Sold Price 1461 1468 -0.5% 1461 1319 10.8% 1464 1410 3.8%

Days on Market to sell a property has been averaging approx. 2 to 3 months and properties are selling at approx. 96% of original list price.

For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.
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Rainmaker
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David Saks
(retired) - Memphis, TN

Another fine report. Thanks for sharing this important information. Hopes for your continued success.

Aug 08, 2013 06:02 AM #1
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Maureen Megowan

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