The real estate market in the City of Rancho Palos Verdes has not only stabilized but appears to be on an upward trend. Average price per square foot appears to be very consistent over the last six months, even kicking up in September and October,the level of inventory of homes for sale is downsignificantlyand the average number of homes sold over the last 3 months has also increased over the comparable period last year.
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The number of homes for sale in Rancho Palos Verdes has decreased significntly compared to the comparable period last year, having dropped about 24% compared to last year. The monthly average number of properties sold during the last three months compared to the similar period last year has also gone up almost 8%. The number of months inventory, based upon the average monthly sales over the last 3 months ,has also decreased to approx. 4 months of inventory, historically very low
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The average price per square foot for homes sold in Rancho Palos Verdes has been very consistent over the
last six months, even increasing over the last two monthsand is up approx. 2% the last three months compared
to the same period last year. The market does appear to have stabilized over the last six months.
The following is a list of the 25 homes sold during the month of October 2011:
AddressSales Price Bd Bth Sqft $/Sq Yr.Built ML# Sold DateDays on Market
2568 Colt RD $700,000 3 3.00 2,191 $319.49 1961 V11039782 10/11/11 131
4232 Miraleste DR $907,500 4 3.00 3,100 $292.74 1961 S11075466 10/04/11 85 12 Toprail LN $1,185,000 3 3.00 2,582 $458.95 1956 V11112701 10/31/11 59 4128 Admirable DR $815,000 3 3.00 1,843 $442.21 1959 S11080174 10/18/11 49 16 Nuvola CT $1,600,000 3 4.00 3,956 $404.45 1998 S11116409 10/20/11 12 40 Sea Cove DR $2,830,000 2 3.00 2,580 $1,096.90 1954 S11110633 10/07/11 339 32045 Isthmus View DR $7,150,000 5 9.00 11,000 $650.00 2010 S10066341 10/19/11 462 30117 Via Borica $1,088,000 4 3.00 2,281 $476.98 1966 11014013 10/18/11 14 30721 Via Rivera $1,120,000 4 3.00 2,424 $462.05 1962 V11071998 10/06/11 96 61 Sea Breeze AV $1,650,000 5 4.00 4,000 $412.50 1999 V11065021 10/14/11 149 51 Sea Breeze ST $1,730,000 5 4.00 4,000 $432.50 1999 V11000531 10/24/11 263 28405 Lomo $850,000 4 2.00 2,016 $421.63 1963 V11050207 10/14/11 169 6702 Locklenna LN $1,027,000 3 3.00 2,875 $357.22 1967 S11110989 10/14/11 11 29230 Beachside DR $922,000 4 3.00 3,050 $302.30 1966 V11113505 10/18/11 9 5626 Seaside Heights $1,030,000 5 3.00 2,468 $417.34 1966 V11096205 10/12/11 28 6225 Lochvale DR $1,090,000 4 3.00 2,430 $448.56 1965 V11088236 10/14/11 41 27509 Elmbridge DR $930,000 4 2.00 2,165 $429.56 1965 V11030733 10/14/11 210 27926 Longhill DR $1,100,000 5 3.00 2,494 $441.06 1967 V11071606 10/13/11 107 26453 Basswood AV $680,000 3 2.00 1,753 $387.91 1956 S10113690 10/19/11 71 27161 Fond Du Lac RD $750,000 4 2.00 1,890 $396.83 1958 S673218 10/21/11 3 5507 Bayridge RD $782,000 3 2.00 1,773 $441.06 1956 V11076837 10/27/11 133 26332 Grayslake RD $785,000 4 2.00 1,890 $415.34 1961 S11114085 10/21/11 14 27905 Pontevedra DR $654,000 4 2.00 2,136 $306.18 1959 S10083217 10/13/11 250 2062 Upland ST $725,000 3 2.00 1,716 $422.49 1957 V11099311 10/01/11 33 27904 Alaflora DR $735,000 4 2.00 1,746 $420.96 1959 S11109970 10/20/11 64 27636 Tarrasa DR $740,000 3 3.00 1,900 $389.47 1960 V11065503 10/01/11 131 Average $1,291,365 4.0 3.00 2,779 $440 113
Combined with record low interest rates, now is an excellent time to consider buying a home.
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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.
