The single family home market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) was at a seasonable level during the 1st quarter of 2019 with 22 homes on the market at the end of March, a large 69% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 7 sales a month, a 10% increase compared to the comparable period last year. There are 8 homes in escrow as of the end of March with contingencies removed, a 11% increase over this time last year.
The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) averaged $706 per sq. ft. over the last 3 months, an approx. 22% increase from the comparable period a year ago.
Based on the average monthly sales for the last 3 months of 7 homes and the 22 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 of 10 homes
The average list price of homes in Rolling Hills Estates over the last 3 months has been averaging $2,159,000, a 1% decrease over the comparable period last year. The average price of homes sold over the last three months was $2,172,000 a 23% increase compared to the similar period last year.
The time period to sell a home has averaged about 1-2 months over the last quarter, and homes have sold for an average of 99% of list price