The following is the 1st quarter 2013 Real Estate Market Report for the City of Rolling Hills Estates, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City.
The number of homes for sale has decreased over the last several months to only 13 homes on the market at the end of the 1st quarter, 48% lower than this time last year. Sales increased substantially in the first quarter compared to last quarter to an average of 9 homes sold per month, which is a 50% increase over a year ago, and with 12 homes in escrow at the end of the quarter. Incredibly, there is now just over 1 months inventory on the market.
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Mar. 13 |
Feb. 13 |
Curnt vs. Prev Month % Change |
Mar. 13 |
Mar. 12 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jan. 13 to Mar. 13 |
Jan. 12 to Mar. 12 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| For Sale |
13 |
10 |
30% 
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13 |
25 |
-48%
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13 |
23 |
-43.5%
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| Sold |
12 |
9 |
33.3%
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12 |
12 |
0% |
9 |
6 |
50%
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| Pended |
12 |
12 |
0% |
12 |
11 |
9.1%
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10 |
10 |
0% |
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The above chart is based only on the sales for the month calculated.
The most recent quarterly average price per sq. ft. of properties sold of $465 per s.f. showed a 18% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago.
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Mar. 13 |
Feb. 13 |
Curnt vs. Prev Month % Change |
Mar. 13 |
Mar. 12 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jan. 13 to Mar. 13 |
Jan. 12 to Mar. 12 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Sq. Ft. Price |
479.2 |
430.6 |
11.3%
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479.2 |
411.6 |
16.4%
|
465.2 |
395.6 |
17.6%
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As noted below, the average time to sell a home in Rolling Hills Estates has averaged from approx. 2 to 3 months during
the 1st quarter. . The average percentage of sales price to original list price has also averaged about 95%.
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The average list price for homes for sale during the ffirst quarter 2013 of approx. $1.7 million is 19% higher than the comparable quarter last year. The average sale price for homes during the 1st quarter , however is only approx. $1.2 million , indicating that lower priced homes are selling faster than higher priced homes.
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Mar. 13 |
Feb. 13 |
Curnt vs. Prev Month % Change |
Mar. 13 |
Mar. 12 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jan. 13 to Mar. 13 |
Jan. 12 to Mar. 12 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Active Price |
1674 |
1788 |
-6.4%
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1674 |
1406 |
19.1%
|
1700 |
1406 |
20.9%
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| Avg. Sold Price |
1341 |
1072 |
25.1%
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1341 |
1064 |
26%
|
1246 |
996 |
25.1%
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With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.
