The real estate market in the City of Rancho Palos Verdes has been very active, with sales strong. The level of inventory of homes for sale of 84 homes at the end of October is up significantly over the last 9 months since decreasing to extremely low levels at the first of the year, with the average number of homes for sale now up about 15% compared to the end of October last year. The average number of homes sold per month over the last 3 months of 36 homes per month, is 3% higher than the comparable 3 month period last year, however sales dipped significantly in October. There are only 26 homes in escrow at the end of October. Click here for a current search of homes for Sale in Rancho Palos Verdes.
Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago% Change
For Sale 84 78 7.7%

84 73 15.1%

82 80 2.5%

Sold 26 41 -36.6%

26 30 -13.3%

36 35 2.9%

Pended 26 37 -29.7%

26 41 -36.6%

33 36 -8.3%

The following is a list of the 26 homes sold during the month of October 2013:

Address Sales Price Bd Bth Sqft $/Sq Yr.Built ML# Sold Date Days on Market

4391 Miraleste DR $700,000 3 1.00 1,413 $495.40 1952 SB13148742 10/09/13 77

6420 Via Colinita $900,000 3 4.00 4,352 $206.80 1975 WS13080833 10/28/13 3

3256 Deluna DR $767,000 3 2.00 1,819 $421.66 1962 PV13182758 10/22/13 9

2828 Vista Mesa DR $1,145,000 4 3.00 3,647 $313.96 1960 IN13068776 10/09/13 230

3943 Admirable DR $937,000 3 3.00 1,828 $512.58 1959 SB13116144 10/30/13 176

4151 Maritime RD $1,071,000 2 2.00 1,200 $892.50 1954 SB13172757 10/08/13 39

30124 Avenida De Calma $1,180,000 5 3.00 3,002 $393.07 1966 PV13083014 10/18/13 166

2 Sail View AV $2,100,000 4 4.00 3,727 $563.46 1999 PV13161996 10/02/13 28

28716 Cedarbluff DR $933,000 4 2.00 2,192 $425.64 1964 SB13141867 10/01/13 75

6963 Starstone $985,000 3 2.00 2,076 $474.47 1963 SB13191835 10/25/13 32

28418 Meadowmist DR $1,075,000 5 4.00 2,366 $454.35 1968 PV13104360 10/04/13 106

6236 Scotmist DR $1,111,111 4 3.00 2,178 $510.15 1965 PV13177948 10/17/13 45

29334 Stadia Hill LN $1,280,000 5 3.00 2,904 $440.77 1968 PV13167454 10/29/13 60

29177 Oceanridge DR $1,345,000 5 4.00 3,090 $435.28 1968 PV13165495 10/25/13 59

5541 Mistridge DR $1,376,000 5 4.00 3,186 $431.89 1967 SB13181492 10/30/13 10

26717 Honey Creek RD $1,209,000 4 3.00 2,405 $502.70 1966 SB13157884 10/16/13 21

27153 Shorewood RD $820,000 3 2.00 1,488 $551.08 1958 PV13160896 10/31/13 56

5536 Montemalaga DR $885,000 4 2.00 2,032 $435.53 1962 PV13173302 10/08/13 12

27022 Fond Du Lac RD$915,000 3 2.00 1,730 $528.90 1958 PV13167847 10/01/13 8

26833 Shorewood RD $970,000 3 2.00 1,961 $494.65 1958 PV13166590 10/16/13 27

5352 Ironwood ST $1,085,000 3 2.00 1,404 $772.79 1956 PV13177292 10/03/13 30

26628 Fond Du Lac RD$1,250,000 4 3.00 2,078 $601.54 1957 SB13167807 10/09/13 53

27000 Freeport RD$2,400,000 4 4.00 4,166 $576.09 2010 PV13131775 10/23/13 110

1902 Trudie DR $505,000 3 1.00 1,084 $465.87 1950 SB13141849 10/11/13 93

2078 Jaybrook DR $680,000 3 2.00 1,285 $529.18 1950 PV13181997 10/16/13 155

1248 W Bloomwood RD $830,000 3 3.00 1,768 $469.46 1973 PV13162278 10/29/13 70

Average $1,094,389 4.0 2.70 2,322 $471 67
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $481 is approx. 15% higher than the comparable period last year.
Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 471.2 484.4 -2.7%

471.2 431.7 9.2%

480.5 418.7 14.8%

The average list price of homes offered for sale of $2.5 million is now 41% higher than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.2 million over the last 3 months.This indicates that the lower priced homes are selling faster than the higher priced homes.
Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2517 2665 -5.6%

2517 1781 41.3%

2481 1790 38.6%

Avg. Sold Price 1094 1204 -9.1%

1094 1011 8.2%

1178 1106 6.5%

Properties have been taking about 1 to 2 months to sell and sold for 98% of the original list price
With 84 homes currently for sale, and sales averaging 36 homes per month,there is currently about 3 months of inventory
Combined with low interest rates, now is an excellent time to consider buying a home.
For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.

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.