The average number of properties listed for sale for the overall Palos Verdes Peninsula during the last 3 months is approx. 36% lower than the comparable period 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 58 over the last 3 months is about 2% higher than the comparable period last year . Sales per month over the previous 5 months had continued to increase, however decreased to 47 sales in July 2012. Pending sales in escrow have been strong , however with 71 homes in escrow at the end of July, forecating continuing strong sales over the next two months.
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Jul. 12 |
Jun. 12 |
Curnt vs. Prev Month % Change |
Jul. 12 |
Jul. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
May. 12 to Jul. 12 |
May. 11 to Jul. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| For Sale |
175 |
189 |
-7.4% |
175 |
281 |
-37.7% |
181 |
283 |
-36% |
| Sold |
47 |
72 |
-34.7% |
47 |
55 |
-14.5% |
58 |
57 |
1.8%  |
| Pended |
71 |
59 |
20.3% |
71 |
58 |
22.4% |
62 |
53 |
17% |
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The average price per sq. ft. for homes sold over the last 3 months of $480 per sq. ft. is the same compared to the comparable period last year. The average price per sq. ft. of homes sold in 2011 had been relatively steady but has fluctuated a bit the last 7 months, but did reach $508 per sq. ft. in January, the highest in 2 years.
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Jul. 12 |
Jun. 12 |
Curnt vs. Prev Month % Change |
Jul. 12 |
Jul. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
May. 12 to Jul. 12 |
May. 11 to Jul. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Sq. Ft. Price |
490 |
468 |
4.7% |
490 |
454 |
8.1% |
480 |
480 |
0% |
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Based on the average monthly sales of 58 homes over the last 3 months, the current inventory of 175 homes for sale equates to a 3 months inventory
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The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.4 million, up approx. 1% compared to the average price of homes sold in the comparable period last year, taking a large drop in February 2012, but then increasing over the last 5 months. The average listing price for homes during the last 3 months of $2.2 million shows that the lower priced homes are selling faster than the higher priced homes. .
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Jul. 12 |
Jun. 12 |
% Change |
Jul. 12 |
Jul. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
May. 12 to Jul. 12 |
May. 11 to Jul. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Active Price |
2236 |
2195 |
1.9% |
2236 |
2114 |
5.8% |
2187 |
2042 |
7.1% |
| Avg. Sold Price |
1330 |
1416 |
-6.1% |
1330 |
1187 |
12% |
1394 |
1377 |
1.2% |
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Days on Market to sell a property has been averaging approx. 3 months, and properties are selling at approx. 92% of original list price.
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Jul. 12 |
Jun. 12 |
Curnt vs. Prev Month % Change |
Jul. 12 |
Jul. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
May. 12 to Jul. 12 |
May. 11 to Jul. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Days on Market |
96 |
88 |
9.1% |
96 |
77 |
24.7% |
96 |
78 |
23.1% |
| Sold/Orig LP Diff. % |
92 |
93 |
-1.1% |
92 |
92 |
0% |
92 |
91 |
1.1% |
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For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.
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