The Palos Verdes Estates real estate market continues to berelatively strong. The number of homes listed for sale in the City of Palos Verdes Estates increased substantially fromJanuary thruJune after falling to very low levels at the end of 2013 . The number of homes listed for sale at the end of June has increased significatly to 63 homes for sale.The average number of homes sold per month during thesecond quarter 2014decreased 7% compared to last year’s2nd quarter, averaging 13 sales per month. This equates to about5 months of inventory, a significant increase over the recent past.The number of homes in escrow at the end ofJune is 27 homes, however, forecasting increasing sales over the next few months.
Jun. 14 May. 14 Curnt vs. Prev Month % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Ago % Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 63 49 28.6% 63 45 40% 53 46 15.2%
Sold 13 11 18.2% 13 15 -13.3% 13 14 -7.1%
Pended 27 14 92.9% 27 20 35% 17 17 0%

The average price per square foot over the last 3 months has been $612 per sq. ft., an increase of approx. 4% over the comparable period last year.

Ago
Jun. 14 May. 14 Curnt vs. Prev Monthb % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Agob% Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yrb% Change
Avg. Sq. Ft. Price 609.5 630.2 -3.3% 609.5 575.7 5.9% 611.5 588.5 3.9%
The average days on market for homes sold during the2nd quarter 2014 was about 2 to 3 months.. The percentage of original list price for homes sold is approx. 98%.
The average list price of homes for sale rosedecreased inJune 2014to approx. $3.4 million. The average sold price of approx. $1.7 million during the2nd quarter is approx. 5% lower than the comparable quarter last year. This shows that the lower priced homes are selling faster than the higher priced homes.
Jun. 14 May. 14 Curnt vs. Prev Month % Change Jun. 14 Jun. 13 Curnt vs. Same Month 1 Yr Ago % Change Apr. 14 to Jun. 14 Apr. 13 to Jun. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 3440 3750 -8.3% 3440 2693 27.7% 3631 2738 32.6%
Avg. Sold Price 1667 1911 -12.8% 1667 1839 -9.4% 1685 1782 -5.4%
With63 homes listed for sale at the end of June, and sales averaging 13 homes per month during the2nd quarter 2014, this equates to about5 months of inventory.
With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.

For more information about Palos Verdes and South Bay Real Estate and buying and sellinga homeon the Palos Verdes Peninsula, visit my website at https://www.maureenmegowan.com. I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula.I would love to hear your comments or suggestions.