The following is a list of the 11 homes sold in the City of Palos Verdes Estates during the month of February 2013:

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

2700 Via Pacheco $1,400,000 4 3.00 2,483 $563.83 1962 SB13004488 2/21/13 29

1220 Via Zumaya $1,926,075 5 4.00 3,520 $547.18 1972 SB13018739 2/28/13 87

2020 Via Pacheco $2,025,000 5 5.00 4,207 $481.34 2002 SB12148545 2/06/13 206

2700 Via Victoria $2,260,000 5 6.00 5,930 $381.11 1987 V12113094 2/20/13 142

1601 Via Barcelona $2,375,000 5 5.00 6,628 $358.33 1978 V11071040 2/25/13 349

2800 Via Segovia $2,750,000 5 4.00 4,652 $591.14 1966 PV12151199 2/20/13 69

924 Via Rincon $3,825,000 5 4.00 4,700 $813.83 1962 S11150423 2/22/13 464

400 Paseo Del Mar $3,700,000 5 4.00 4,100 $902.44 1954 PV13000586 2/05/13 30

4312 Via Alondra $1,030,000 3 3.00 2,670 $385.77 1955 PV12136747 2/28/13 95

4125 Via Largavista $1,600,000 3 3.00 2,409 $664.18 1952 SB12152406 2/06/13 51

2812 Palos Verdes DR W $1,015,000 3 2.00 1,612 $629.65 1956 SB13002561 2/01/13 10

Average $2,173,280 4.0 3.90 3,901 $557 139

The number of homes listed for sale in the City of Palos Verdes Estates has dropped significantly over the last 10 months with only 22 homes listed for sale at the end of February, which is 57% lower than the same time a year ago. The number of homes sold over the last 3 months, averaging 10 sales per month, is 23% less than sales during the same period last year primarily due to the lack of inventory. This equates to 2 months of inventory, historically extremely low.The number of homes in escrow at the end of February is 10 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Due to the low inventory of homes, properly priced homes are often receiving multiple offers in this market. Make sure and scroll down to see entire report below.

Feb. 13 Jan. 13 % Change Curnt vs. Prev Month Feb. 13 Feb. 12 % Chang Curnt vs. Same Month 1 Yr Agoe Dec. 12 to Feb. 13 Dec. 11 to Feb. 12 % Chang Curnt vs. Same Qtr 1 Yr Agoe
For Sale 22 17 29.4%

22 51 -56.9%

20 47 -57.4%

Sold 11 7 57.1%

11 10 10%

10 13 -23.1%

Pended 10 17 -41.2%

10 8 25%

11 10 10%

The average price per square foot over the last 3 months has been $555 per sq. ft., an increase of approx. 4% over the comparable period last year. The overall market appears to have stabilized. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.

Feb. 13 Jan. 13 % Change Curnt vs. Prev Month Feb. 13 Feb. 12 % Change Curnt vs. Same Month 1 Yr Ago Dec. 12 to Feb. 13 Dec. 11 to Feb. 12 % Change Curnt vs. Same Qtr 1 Yr Ago
Avg. Sq. Ft. Price 557 569 -2%

557 510 9.2%

555 534 3.9%

The average days on market for homes sold during last 3 months was about 2 to 4 months. The percentage of list price for homes sold is approx. 91%.
The average list price of homes for sale at the end of February is aprox. $2.8 million. The average sold price of approx. $1.7 million during the last three months is approx. 13% higher than the comparable 3 months last year, but increased substantially in February to $2.2 million after decreasing in January to $1.3 million. This shows that the lower priced homes are selling faster than the higher priced homes.
Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
Feb. 13 Jan. 13 % Change Feb. 13 Feb. 12 % Change Dec. 12 to Feb. 13 Dec. 11 to Feb. 12 % Change
Avg. Active Price 2829 2899 -2.4%

2829 2725 3.8%

2915 2729 6.8%

Avg. Sold Price 2173 1284 69.2%

2173 1190 82.6%

1720 1526 12.7%

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.