After making a strong comeback in the average price per sq. ft. of homes sold in Rolling Hills Estates during the spring, the most recent quarter showed an approx. 6% drop from the comparable quarter a year ago. Because of the relatively small number of monthly sales, the average monthly price per sq. ft. for this city is highly dependent on the type of homes sold during the month.

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
Oct. 11 Sep. 11 % Change Oct. 11 Oct. 10 % Change Aug. 11 to Oct. 11 Aug. 10 to Oct. 10 % Change
Avg. Sq. Ft. Price 407 405 0.4% 407 483 -15.9% 423 449 -5.9%

Horse Jumping at Dapplegray

Based on the average monthly sales for the last 3 months, there is currently a 6 month inventory of unsold homes.

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
Oct. 11 Sep. 11 % Change Oct. 11 Oct. 10 % Change Aug. 11 to Oct. 11 Aug. 10 to Oct. 10 % Change
For Sale 32 31 3.2% 32 27 18.5% 31 28 10.7%
Sold 3 6 -50% 3 2 50% 5 5 0%
Pended 2 5 -60% 2 4 -50% 4 3 33.3%

One positive factor is that the average monthly sales over the last 4 months have been higher than each of the last year except for one month in May.

The following are the homes sold in the City of Rolling Hills Estates during the month of October 2011:
Address Sales Price Price Bd Bth Sqft $/Sq Yr. Built ML# Sold Date Days on Market
27665 Saddle RD $655,000 3 2.00 1,512 $433.20 1957 V11063759 10/14/11 104
27740 Saddle RD $849,000 3 3.00 1,890 $449.21 1956 S11083902 10/21/11 107
11 Via De La Vista $830,000 4 2.00 2,339 $354.85 1965 S11096590 10/11/11 14
Average $778,000 3 2.30 1,914 $407 75
My sense of the market is that it has become a relatively stable market, however buyers seem to continue to feel uneasy about the economy, and even with record low interest rates, buyers remain cautious.

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.