The number of homes listed for sale in the City of Palos Verdes Estates during 2011 has been relatively steady, averaging 78 homes. The average number of homes sold per month during this same period has also been very steady, averaging 15 sales per month, however the average monthly number of homes sold during the last quarter was down to 12. This equates to approx. 7 months of inventory.

The average price per square foot over the last 3 months has been $503 per sq. ft., a decrease of 4% over the comparable period last year. The overall market appears to have stabalized. 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
Sep. 11 Aug. 11 % Change Sep. 11 Sep. 10 % Change Jul. 11 to Sep. 11 Jul. 10 to Sep. 10 % Change
Avg. Sq. Ft. Price 499 505 -1.1% 499 520 -4% 503 522 -3.7%
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 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.