Palos Verdes Peninsula ( All Cities ) May 2013 Single Family Real Estate Market Report

ByMaureen Megowan Knowledge
The average number of properties listed for sale for the overall Palos Verdes Peninsula at the end of May is approx. 29% lower than the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 65 over the last 3 months is about 20% higher than the comparable period last year . Pending sales in escrow have been strong , with 75 homes in escrow at the end of May, forecasting continuing strong sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.
May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 136 139 -2.2%

136 182 -25.3%

127 180 -29.4%

Sold 62 63 -1.6%

62 56 10.7%

65 54 20.4%

Pended 75 71 5.6%

75 54 38.9%

72 61 18%

The average price per sq. ft. for homes sold over the last 3 months of $504 per sq. ft. is up 7% from the same compared to the comparable period last year.
May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 518.8 513.1 1.1%

518.8 492.8 5.3%

504.6 473.6 6.5%

Based on the average monthly sales of 65 homes over the last 3 months, the current inventory of 136 homes for sale equates to just a bit over a 2 months inventory, which historically is extremely low.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.4 million, up approx. 5% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $2.9 million has been rising over the last 8 months and shows that the lower priced homes are selling faster than the higher priced homes.

May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2933 2780 5.5%

2933 2197 33.5%

2911 2261 28.7%

Avg. Sold Price 1464 1397 4.8%

1464 1447 1.2%

1406 1345 4.5%

Days on Market to sell a property has been averaging approx. 2 to 3 months and properties are selling at approx. 96% of original list price.
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://rightreligion.stellarwp.site . 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.