The real estate market in the City of Rancho Palos Verdes has been very active, with sales strong and inventory down. The level of inventory of homes for sale is down significantly with the average number of homes for sale over the last 3 months having decreased approx. 27% over the comparable period last year. The monthly average number of properties sold during the last three months compared to the similar period last year has gone up almost 29%. The average monthly number of homes in escrow during the last 3 months has also increased 53% over the comparable period last year.

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
Nov. 11 Oct. 11 % Change Nov. 11 Nov. 10 % Change Sep. 11 to Nov. 11 Sep. 10 to Nov. 10 % Change
For Sale 105 111 -5.4% 105 142 -26.1% 116 158 -26.6%
Sold 30 25 20% 30 9 233.3% 27 21 28.6%
Pended 32 29 10.3% 32 22 45.5% 29 19 52.6%

The number of months inventory, based upon the average monthly sales over the last 3 months ,has also decreased to approx. 4 months of inventory, historically very low

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
Nov. 11 Oct. 11 % Change Nov. 11 Nov. 10 % Change Sep. 11 to Nov. 11 Sep. 10 to Nov. 10 % Change
Avg. Sq. Ft. Price 378 464 -18.5% 378 397 -4.6% 437 435 0.4%
The average price per square foot for homes sold in Rancho Palos Verdes has been very consistent over the
last six to eight months, even increasing over September and October, but decreased 19% in November
compared to the previous month. It remains to be seen if this is a one month aberration.
The following is a list of the 30 homes sold during the month of November 2011:
Address Sales Price Bd Bth Sqft $/Sq Yr.Built ML# Sold Date Days on Market
2202 Sunnyside Ridge RD $675,900 3 2.00 2,068 $326.84 1958 V11119399 11/16/11 15
2040 Suana DR $721,000 3 2.00 1,740 $414.37 1960 V11109806 11/04/11 38
6264 Via Canada $875,000 5 3.00 3,859 $226.74 1955 M11122658 11/29/11 37
2952 Crownview DR $1,060,000 3 3.00 2,817 $376.29 1964 S11131680 11/21/11 46
4332 Via Frascati $1,100,000 4 3.00 2,207 $498.41 1963 V11129470 11/22/11 53
30707 E Palos Verdes Dr. $1,650,000 5 6.00 5,304 $311.09 2004 V11000011 11/10/11 215
30920 Oceangrove DR $690,000 3 3.00 2,242 $307.76 1975 S11098042 11/18/11 89
32452 Searaven DR $847,000 4 2.00 2,037 $415.81 1963 V11044339 11/22/11 225
4031 S Palos Verdes DR $1,238,000 5 5.00 4,451 $278.14 1959 S11037179 11/29/11 219
104 Spindrift DR $1,250,000 4 3.00 1,293 $966.74 1956 V11149567 11/15/11 33
39 Nuvola CT $1,578,000 4 4.00 3,470 $454.76 1998 V11049212 11/28/11 211
30815 Rue Valois $960,000 4 2.00 1,926 $498.44 1960 V11081193 11/03/11 101
30530 Camino Porvenir $1,150,000 4 3.00 2,600 $442.31 1974 V11041765 11/15/11 215
30037 Avenida Esplendida $1,200,000 3 4.00 3,500 $342.86 1973 S11088584 11/10/11 116
6831 Faircove DR $1,250,000 5 3.00 3,000 $416.67 1967 V11109676 11/15/11 88
6934 Brookford DR $840,000 3 2.00 1,854 $453.07 1962 S11092808 11/16/11 90
6632 Verde Ridge Road $1,100,000 5 4.00 2,788 $394.55 1972 V11078210 11/10/11 142
28419 Hazelridge DR $1,165,000 4 3.00 2,484 $469.00 1964 V11132835 11/18/11 40
5632 Seaside Heights $920,000 4 3.00 2,488 $369.77 1966 V11133375 11/30/11 8
5940 Finecrest DR $700,098 4 3.00 2,270 $308.41 1959 V11087256 11/18/11 82
5302 Littlebow RD $765,000 4 2.00 2,340 $326.92 1957 P789544 11/28/11 100
26644 Shadow Wood DR $870,000 4 3.00 1,917 $453.83 1961 P796824 11/04/11 6
5951 Flambeau Road $870,000 5 2.00 2,190 $397.26 1959 V11099943 11/16/11 109
27100 Mesaba DR $902,000 4 3.00 2,245 $401.78 1958 V11110300 11/09/11 26
2034 Jaybrook DR $520,000 2 2.00 1,100 $472.73 1950 P797983 11/16/11 50
2036 W Macarthur ST $530,000 4 2.00 1,629 $325.35 1955 S11067145 11/18/11 113
27630 Tarrasa DR $569,000 4 3.00 1,902 $299.16 1960 V11070978 11/18/11 164
1966 W General ST $620,000 4 2.00 1,781 $348.12 1955 S11135149 11/22/11 28
1465 W Toscanini DR $675,000 4 2.00 2,100 $321.43 1974 S11042705 11/09/11 166
29004 S Bayend DR $685,000 4 3.00 2,376 $288.30 1987 V11104151 11/08/11 76
$932,533 4.0 2.90 2,466 $397 1966 97
Average $1,291,365 4.0 3.00 2,779 $440 113
Combined with record low interest rates, now is an excellent time to consider buying a home.

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.