The number of homes listed for sale in the City of Palos Verdes Estates remains extremely low. with only 25 homes listed for sale at the end of the first quarter, which is 50% lower than the end of the 1st quarter a year ago. The average number of homes sold per month during this same period has stayed about the same as last year’s 1st quarter, averaging 11 sales per month. This equates to only about 2 months of inventory.The number of homes in escrow at the end of the quarter is 18 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 |
| For Sale |
25 |
22 |
13.6% 
|
25 |
50 |
-50%
|
21 |
50 |
-58%
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| Sold |
15 |
11 |
36.4%
|
15 |
11 |
36.4%
|
11 |
12 |
-8.3%
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| Pended |
18 |
9 |
100%
|
18 |
16 |
12.5%
|
15 |
11 |
36.4%
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The average price per square foot over the last 3 months has been $567 per sq. ft., an increase of approx. 6% over the comparable period last year. The overall market is very strong, with very low inventory of homes for sale and strong buyer activity, many properties are receiving multiple offers.
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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 |
572.7 |
557.1 |
2.8%
|
572.7 |
528.4 |
8.4%
|
566.6 |
532.5 |
6.4%
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The average days on market for homes sold during the 1st quarter 2013 was about 4 months. The percentage of original list price for homes sold is approx. 90%.
The average list price of homes for sale rose significantly in December to approx. $3.0 million but decreased to $2.7 million at the end of the first quarter of 2013. The average sold price of approx. $1.8 million during the 1st quarter is approx. 22% higher than the comparable quarter last year. This does show that the lower priced homes are selling faster than the 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 |
2713 |
2829 |
-4.1%
|
2713 |
2701 |
0.4%
|
2791 |
2695 |
3.6%
|
| Avg. Sold Price |
1871 |
2173 |
-13.9%
|
1871 |
1521 |
23%
|
1847 |
1518 |
21.7%
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With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.
