The single family home market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) slowed considerably during the 3rd quarter of 2018 with 32 homes on the market at the end of September, a 33% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 5 sales a month, a 53% decrease compared to the comparable period last year. There are 6 homes in escrow as of the end of September with contingencies removed.
The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) averaged $632 per sq. ft. over the last 3 months, an approx. 7% increase from the comparable period a year ago.
Based on the average monthly sales for the last 3 months of 5 homes and the 32 homes listed for sale, there is currently about 6 months inventory of unsold homes. The chart below is based upon the most recent month's sales of only 1 home in September.
The average list price of homes in Rolling Hills Estates over the last 3 months has been averaging $2,181,000, a 4% decrease over the comparable period last year. The average price of homes sold over the last three months was $1,748,000 a 5% increase compared to the similar period last year.
The time period to sell a home has averaged about 1 month over the last quarter ( September statistic below based on only 1 sale) , and homes have sold for an average of 98% of list price