Palos Verdes Peninsula November 2011 Real Estate Market Report

The overall Palos Verdes Peninsula Real Estate Market sales slowed during September and October but increased in November to 50 home sales, the average monthly home sales over the last 6 months. The average number of properties listed for sale during the last 3 months is approx. 21% lower than the comparable period last year, and the number of sales per month over the last 3 months is up 13% compared to that of the similar 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 211 238 -11.3% 211 277 -23.8% 238 304 -21.7% Sold 50 38 31.6% 50 19 163.2% 44 39 12.8% Pended 54 51 5.9% 54 36 50% 50 37 35.1% Based on the average monthly sales of 50 homes, the current inventory of 211 homes for sale equates to a little over 4 months inventory 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 439 471 -6.8% 439 496 -11.4% 457 481 -5.1% The average price per sq. ft. for homes sold over the last 3 months is down approx. 5% over the comparable period last year. The average price per sq. ft. of homes sold had been relatively steady over the previous four months,but decreased in all of the cities of the Peninsula during November. It remains to be seen if this is a trend or just a one month blip in the market.