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Rolling Hills 4th Quarter 2018 Real Estate Market Report
The City of Rolling Hills had the following real estate market activity for single family residences during the 4th quarter of 2018 Propeties for Sale as of 12/31/2018: 16: 33% decrease over this time last year. 7 homes were sold during the 4th quarter of 2018.. This equates to a 7 month supply. 1 homes is in escrow as of the end of December. Average List Price at 12/31/18: $4.9 million Average Sold Price over the last 3 months: $5.6 million Average Price per Sq. Ft. for Properties Sold during the [...]
City of Rancho Palos Verdes 4th Qtr 2018 Real Estate Market Report
The single family home market for Rancho Palos Verdes has slowed considerably during the fourth quarter of 2018. The level of inventory of homes for sale of 76 homes in the City of Rancho Palos Verdes at the end of December is up about 31% compared to the end of December last year. The average number of homes sold per month over the last 3 months of 25 homes per month, is down 13% however compared to the same 3 month period last year. There are only 16 homes in escrow [...]
Rolling Hills Estates 4th Quarter 2018 Real Estate Market Report
The single family home market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) was quite active on a seasonable level during the 4th quarter of 2018 with 20 homes on the market at the end of December, a 66% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 7 sales a month, a 91% increase compared to the comparable period last year. There are 13 homes in escrow as of the end of December with contingencies [...]
Palos Verdes 4th quarter 2018 Condo and Townhome Real Estate Market Report
Summary: The number of condos and townhomes listed for sale on the Palos Verdes Peninsula at the end of December is 28% higher than at this time last year and the number of homes sold during the last three months is down 40% compared to the prior year, resulting in unsold inventory of 3 months supply. Prices of $460 per square foot are down approx. 3% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. Condos and townhomes taking only [...]
City of Palos Verdes Estates 4th Quarter 2018 Real Estate Market Report
The single family home market for Palos Verdes Estates continued to slow to seasonal levels during the 4th quarter of 2018. There are 43 homes listed for sale in the City of Palos Verdes Estates at the end of December , which is 19% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 11 sales per month, is 3% higher compared to the same period last year . This equates to almost 4 months of inventory, based on the average sales per [...]
Palos Verdes Peninsula 4th Quarter 2018 single family real estate market report
Summary: The number of homes listed for sale on the Palos Verdes Peninsula of 155 homes is 19% higher than last year and the number of homes sold during the last three months is 1% higher compared to the prior year, resulting in unsold inventory of 4 months supply. Prices per square foot are down approx. 2% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. The market has also been very active with houses taking 1 to 2 months [...]
FHFA Announces Maximum Conforming Loan Limits for 2019
On November 27, 2018 The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. The loan limit effective 1/1/19 for a conforming loan is $484,350(previously $453,100). For certain high cost areas such as Los Angeles there is a higher limit for so-called "Jumbo conforming loans" between $484,350 and $726,525 (previously $679,650 ). Jumbo loans in excess of $726,525 also require a much higher down payment of 25 to 30%. The new FHA limit for FHA guaranteed [...]
City of Rancho Palos Verdes 3rd Qtr 2018 Real Estate Market Report
The single family home market for Rancho Palos Verdes has slowed considerably during the third quarter of 2018. The level of inventory of homes for sale of 110 homes in the City of Rancho Palos Verdes at the end of September is up about 28% compared to the end of September last year. The average number of homes sold per month over the last 3 months of 33 homes per month, is down 18% however compared to the same 3 month period last year. There are only 25 homes in escrow [...]
Palos Verdes Peninsula 3rd Quarter 2018 single family real estate market report
Summary: The number of homes listed for sale on the Palos Verdes Peninsula of 226 homes is 20% higher than last year and the number of homes sold during the last three months is 19% lower compared to the prior year, resulting in unsold inventory of 4 months supply. Prices per square foot are up approx. 5% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. The market has also been very active with houses taking 1 to 2 months [...]
Palos Verdes 3rd quarter 2018 Condo and Townhome Real Estate Market Report
Summary: The number of condos and townhomes listed for sale on the Palos Verdes Peninsula at the end of September is the same as at this time last year but the number of homes sold during the last three months is down 19% compared to the prior year, but still resulting in unsold inventory of 2 months supply. Prices of $469 per square foot are down approx. 6% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. The market has [...]
Interest rates rise substantially
Mortgage interest rates for buying a home on the Palos Verdes Peninsula rose significantly this week. The following are excerpts from the newsletter on interest rates published by HSH Associates :" It's certainly hard to ignore the noise surrounding the biggest spike in mortgage rates since November 2013, let alone that the run up puts 30-year fixed-rates at more than seven year highs.No one should be surprised that interest rates are rising, even though the speed or size of the move may have caught some off guard. Economic growth has been [...]
City of Palos Verdes Estates 2nd Quarter 2018 Real Estate Market Report
There are 66 homes listed for sale in the City of Palos Verdes Estates at the end ofJune , which is 15% lower than this time a year ago. The number of homes sold over the last 3 months, averaging 17 sales per month, is 9%lower compared tothe same period last year . This equates to over 3months of inventory, based on the average sales per month over the last 3 months. There are 25 homesin escrow at the end ofJune, however,with contingencies waived. The following are the 51 properties sold [...]
Rolling Hills 2nd Quarter 2018 Real Estate Market Report
The City of Rolling Hills had the following real estate market activity for single family residences during the 2nd quarter of 2018 Properties Sold: 6 Properties for Sale as of 6/30/2018: 36, a 33% increase over this time last year. Sales have been averaging 2 home sold per month over the last 3 months. This equates to a 18 month supply. 2 homes are in escrow as of the end of June Average List Price at 6/30/18: $5.2 million Average Sold Price over the last 3 months: $2.7 million Average Price [...]
Rolling Hills Estates 2nd Quarter 2018 Real Estate Market Report
The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 22 homes at the end of June a 24% decrease from the prior year. The number of properties sold monthly over the last 3 months is averaging 7 sales a month, a 24% decrease compared to the comparable period last year. There are 8 homes in escrow as of the end of June with contingencies removed. The following are the 22 properties sold during the 2nd Quarter 2018: The [...]
Palos Verdes 2nd quarter 2018 Condo and Townhome Real Estate Market Report
Summary: The number of condos and townhomes listed for sale on the Palos Verdes Peninsula at the end of June is 17% higher than at this time last year but the number of homes sold during the last three months is down 7% compared to the prior year, but still resulting in unsold inventory of just 1 month supply. Prices of $479 per square foot are up approx. 10% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. The market [...]