The following is the4th quarter 2012 Real Estate Market Report for the City of Rolling Hills Estates, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City.

The number of homes for sale has decreased over the last several months toonly 10homes on the market at the end of the4th quarter, 52% lower than this time last year. Salesincreased substantially in thefourth quarter compared to last quarter to an average of 11 homes sold per month, which is still a 267% increase over a year ago,and with 14 homes in escrow at the end of the quarter. Incredibly, there is now less than 1 months inventory on the market.

Dec. 12 Nov. 12 % Change Curnt vs. Prev Month Dec. 12 Dec. 11 % Change Curnt vs. Same Month 1 Yr Ago Oct. 12 to Dec. 12 Oct. 11 to Dec. 11 % Change Curnt vs. Same Qtr 1 Yr Ago
For Sale 10 14 -28.6% 10 21 -52.4% 16 27 -40.7%
Sold 12 8 50% 12 2 500% 11 3 266.7%
Pended 11 15 -26.7% 11 2 450% 13 3 333.3%

The above chart is based only on the sales for the month calculated.
Horse Jumping at Dapplegray

The most recent quarterly average price per sq. ft. of properties sold of $453 per s.f. showed a 16% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago. Because of the relatively small number of monthly sales, the average monthly price per sq. ft. for this city is highly dependent on the type of homes sold during the month, however the price per sq. ft. of homes sold over the last 5 months has been in a very narrow range.

Dec. 12 Nov. 12 % Change Curnt vs. Prev Month Dec. 12 Dec. 11 % Change Curnt vs. Same Month 1 Yr Ago Oct. 12 to Dec. 12 Oct. 11 to Dec. 11 % Change Curnt vs. Same Qtr 1 Yr Ago
Avg. Sq. Ft. Price 456 458 -0.5% 456 349 30.7% 453 391 15.9%
As noted below, the average time to sell a home in Rolling Hills Estates has averaged from approx. 2 to 3 months during
the4th quarter. . The average percentage of sales price to original list price has also averaged about 94%.
The average list price for homes for sale during thefourth quarter 2012 of approx. $1.7 million is 22% higher than the comparable quarter last year. The average sale price for homes during the4th quarter , however is only approx. $1.3 million , indicating that lower priced homes are selling faster than higher priced homes.
Dec. 12 Nov. 12 % Change Curnt vs. Prev Month Dec. 12 Dec. 11 % Change Curnt vs. Same Month 1 Yr Ago Oct. 12 to Dec. 12 Oct. 11 to Dec. 11 % Change Curnt vs. Same Qtr 1 Yr Ago
Avg. Active Price 1685 1725 -2.3% 1685 1254 34.4% 1663 1362 22.1%
Avg. Sold Price 1366 1206 13.3% 1366 1352 1% 1316 1224 7.5%
With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.

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.