The single family home market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) was quite active on a seasonable level during the 4th quarter of 2018 with 20 homes on the market at the end of December, a 66% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 7 sales a month, a 91% increase compared to the comparable period last year. There are 13 homes in escrow as of the end of December with contingencies removed, by far the highest monthly pending sales in over a year.
The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) averaged $581 per sq. ft. over the last 3 months, an approx. 6% increase from the comparable period a year ago.
Based on the average monthly sales for the last 3 months of 7 homes and the 20 homes listed for sale, there is currently about 3 months inventory of unsold homes. The chart below is based upon the most recent month's sales
The average list price of homes in Rolling Hills Estates over the last 3 months has been averaging $2,122,000, a 1% decrease over the comparable period last year. The average price of homes sold over the last three months was $2,017,000 a 27% increase compared to the similar period last year.
The time period to sell a home has averaged about 2 month over the last quarter, and homes have sold for an average of 96% of list price