There are 49 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of May, which is 4% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is the same as sales during the same period last year . This equates to a bit more than 3 months of inventory, based on the average sales per month over the last 3 months, historically very low.The number of homes in escrow at the end of May is 14 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Properly priced homes are often receiving multiple offers in this market. Make sure and scroll down to see entire report below.

May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 49 47 4.3%

49 47 4.3%

46 40 15%

Sold 11 16 -31.2%

11 15 -26.7%

14 14 0%
Pended 14 12 16.7%

14 15 -6.7%

14 16 -12.5%

The following is a list of the 11 homes sold in the City of Palos Verdes Estates during the month of May 2014:

Address Sales Price Bd Bth Sqft $/Sq Yr. Built ML# Sold Date Days on Market

1216 Via Landeta $1,050,000 3 2.00 1,690 $621.30 1954 PV14092543 5/28/14 15
700 Avenida Mirola $1,860,000 5 3.00 3,190 $583.07 1956 PV14043461 5/20/14 36
1204 Via Coronel $2,159,000 5 4.00 3,476 $621.12 1990 PV14068419 5/22/14 40
2808 Via Neve $2,780,000 5 5.00 5,244 $530.13 1989 SB13244011 5/30/14 131
412 Via Almar $3,250,000 5 5.00 3,875 $838.71 2005 SB14054661 5/28/14 72
2709 Via Elevado $3,300,000 6 6.00 4,709 $700.79 1932 PV14086261 5/30/14 14
4021 Via Valmonte $1,169,000 3 2.00 1,432 $816.34 1952 PV14075899 5/15/14 28
3421 La Selva PL $1,275,000 3 3.00 2,551 $499.80 1927 PV14060209 5/30/14 68
4409 Via Pinzon $1,355,000 4 3.00 2,308 $587.09 1950 PV14048352 5/21/14 58
3904 Palos Verdes DR N $1,390,000 4 3.00 2,565 $541.91 1954 PV14071104 5/30/14 6
4004 Via Cardelina $1,440,000 4 3.00 2,328 $618.56 1953 PV14110525 5/30/14 45
Average $1,911,636 4.0 3.50 3,033 $630 47

The average price per square foot over the last 3 months has been $642 per sq. ft., an increase of approx. 9% over the comparable period last year.

May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 630.2 600.3 5%

630.2 560.3 12.5%

641.9 587.4 9.3%

The average days on market for homes sold during last 3 months was about 2 months. The percentage of list price for homes sold is approx. 98%.
The average list price of homes for sale at the end of May is approx. $3.8 million. This is 39% higher than a year ago. The average sold price of approx. $1.9million during the last three months is 4% higher than the comparable 3 months last year. This shows that the lower priced homes are selling faster than the higher priced homes.
May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 3750 3764 -0.4%

3750 2706 38.6%

3736 2803 33.3%

Avg. Sold Price 1911 1543 23.8%

1911 1718 11.2%

1862 1794 3.8%

With 49 homes listed for sale at the end of May, and average sales per month over the last 3 months of 14 homes sold, this equates to a bit more than 3 months of inventory. The following chart of months of inventory is based upon the most recent month’s sales of 11 homes.
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 other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on 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.