December Market Statistics and Year-End Results

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Real Estate Agent with RE/MAX Estates Properties 00598848

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The numbers are in and owners of Palos Verdes Real Estate single family residences experienced a 6.2% decline in 2008 average sales price compared to 2007.   That is actually not bad compared to the rest of Los Angeles County which was down about 28%.   Home values on the Palos Verdes Peninsula have held fairly steady: 2008 was the first year of declines in recent memory.  Palos Verdes homeowners enjoyed an average of 12% annual appreciation for the prior 5 years - 2007 was 2.1%,  2006 was 2.5%, 2005 was 19.2%, 2004 was 20.2% and 2003 was 16.7%.  Number of sales were down from 2007 sales of 533 to 380 for 2008.  The highest priced property sold for $7,750,000 in Rancho Palos Verdes and the lowest priced property sold for $600,000 in the unincorporated area of Palos Verdes Peninsula ($450,000 in Eastview). Click here to read more....

 

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
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Thanks for posting this...you seem to be in an area like mine.   

Jan 16, 2009 03:16 AM #1
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Rainmaker
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Elaine Murphy Carlson

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