The number of homes listed for sale in the City of Palos Verdes Estates during 2011 has been relatively steady, averaging 78 homes, but is down about 25% compared to a year ago. The average number of homes sold per month during this same period has also been very steady, averaging 15 sales per month. This equates to approx. 5 months of 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
For Sale 68 74 -8.1% 68 92 -26.1% 74 98 -24.5%
Sold 15 8 87.5% 15 5 200% 11 12 -8.3%
Pended 15 18 -16.7% 15 9 66.7% 15 12 25%

The average price per square foot over the last 3 months has been $485 per sq. ft., a decrease of 11% over the comparable period last year. The overall market appears to have stabilized, however the average price per sq. ft. for properties sold in November fell for all of the cities on the Palos Verdes Peninsula. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.

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 457 524 -12.8% 457 641 -28.7% 485 545 -11%
The following is a list of the 8 homes sold during the month of November 2011:
Address Sales Price Bd Bth Sqft $/Sq Yr. Built ML# Sold Date Days on Market

1517 Palos Verdes Drive West $875,000 3 2.00 1,600 $546.88 1954 V11106900 11/22/11 99

2809 Via De La Guerra $960,000 4 2.00 1,860 $516.13 1956 V11130910 11/23/11 36

612 Yarmouth RD $1,051,000 3 2.00 1,661 $632.75 1955 P794279 11/08/11 11

1917 Dalton RD $1,085,000 4 3.00 2,435 $445.59 1947 V11115485 11/30/11 61

841 Rivera PL $1,375,000 4 4.00 4,149 $331.41 1965 V11110476 11/17/11 63

2333 Via Olivera $1,680,000 4 5.00 3,432 $489.51 1971 V11109253 11/03/11 77

1033 Via Nogales $885,000 3 2.00 1,675 $528.36 1956 V11038626 11/28/11 227

2208 Via Alamitos $1,000,000 4 3.00 2,645 $378.07 1966 V11062827 11/25/11 103

2615 Pinale LN $1,170,000 5 6.00 3,905 $299.62 1959 V11048928 11/03/11 159

505 Via Media $1,300,000 3 2.00 2,029 $640.71 1953 V11061370 11/04/11 99

3201 Palos Verdes DR $775,000 4 2.00 1,859 $416.89 1955 U11004233 11/21/11 16

4068 Via Valmonte $810,000 3 2.00 1,850 $437.84 1956 V11126942 11/16/11 28

3420 N Palos Verdes DR $850,000 3 2.00 1,690 $502.96 1949 S11123160 11/08/11 36

3337 Via La Selva $883,090 4 2.00 1,730 $510.46 1954 V11138881 11/30/11 31

4024 Via Pima $902,500 3 2.00 1,650 $546.97 1954 V11095991 11/01/11 69

Average $1,040,106 4.0 2.70 2,278 $482 74
With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates. Buyers do remain very cautious due to the turmoil in the stock market and the economy.

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.