There are60 homes listed homes listed for sale in the City of Palos Verdes Estates at the end of October, which is 43% greater than this time a year ago. The number of homes sold over the last 3 months, averaging 17 sales per month, is up 17% compared tothe same period last year . This equates to between 3 and 4months of inventory, based on the average sales per month over the last 3 months, historically very low.There are 18homesin escrow at the end of October.Properly priced homes are often receiving multiple offers in this market.

The following is a list of the 17 homes sold in the City of Palos Verdes Estates during the month of October2014:

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

3840 Palos Verdes DR N $899,000 3 2.00 1,487 $604.57 1948 PV14186807 10/15/14 115

3636 Palos Verdes DR N $950,000 3 2.00 2,051 $463.19 1952 SB14076245 10/23/14 146

2108 Palos Verdes DR W $970,000 3 3.00 1,871 $518.44 1960 SB14148668 10/22/14 38

1724 Dalton RD $1,075,000 2 2.00 1,997 $538.31 1974 SB14154910 10/10/14 58

3005 W Palos Verdes DR W $1,100,000 4 3.00 2,019 $544.82 1966 PV14199259 10/24/14 38

4020 Via Opata $1,130,000 2 2.00 1,516 $745.38 1958 PW14145698 10/03/14 85

1620 Espinosa CR $1,150,000 3 2.00 1,602 $717.85 1955 PW14156879 10/08/14 52

2549 Chelsea RD $1,160,000 3 2.00 1,382 $839.36 1954 PV14207481 10/21/14 5

121 Via Pascual $1,161,750 3 2.00 2,000 $580.88 1953 SB14181688 10/27/14 16

2408 Via La Selva $1,165,000 2 1.00 1,188 $980.64 1926 SB14192884 10/21/14 44

2624 Via Olivera $2,100,000 4 3.00 3,148 $667.09 1976 PV14176494 10/31/14 14

1405 Via Montemar $2,300,000 3 3.00 2,541 $905.16 1954 PV14198483 10/07/14 15

772 Via Del Monte $2,450,000 3 4.00 3,712 $660.02 1974 PV14119956 10/24/14 120

532 Via Almar $2,525,000 4 3.00 3,040 $830.59 1973 PV14176247 10/07/14 20

429 Via Almar $2,725,000 5 5.00 3,802 $716.73 1956 SB14162407 10/20/14 70

1685 Rico PL $6,388,000 4 7.00 7,420 $860.92 2002 PV14018005 10/17/14 249

1608 Via Fernandez $13,500,000 9 12.00 15,147 $891.27 2006 13724775 10/15/14 275

Average $2,514,632 4.0 3.40 3,290 $710 1964 80

The average price per square foot over the last 3 months has been $763 per sq. ft., an increase of approx. 22% over the comparable period last year.

The average days on market for homes sold during last 3 months was about 2 months. The percentage of list price for homes sold is approx. 93%.
The average list price of homes for sale at the end of Octoberis approx. $3.0 million. This is 10% higher than a year ago. The average sold price of approx. $2.6 million during the last three months is 44% higherthan the comparable 3 months last year.
With60 homes listed for sale at the end of October, and average sales per month over the last 3 months of 17 homes sold, this equates to between3 and 4 months of inventory. The following chart of months of inventory is based upon the most recent month’s sales.
With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.For other market reports for the Palos Verdes Peninsula, go toMarket Reportson mywebsite.

For more information about Palos Verdes and South Bay Real Estate and buying and sellinga homeon 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.