The Palos Verdes Estates real estate market continues to be very strong. The number of homes listed for sale in the City of Palos Verdes Estates increased substantially from April thru October after falling to very low levels at the end of the first quarter of 2013 . The number of homes listed for sale at the end of December, however, has decreased significatly to only 26 homes for sale.The average number of homes sold per month during the fourth quarter increased 17% compared to last year’s 4th quarter, averaging 14 sales per month. This equates to about 2 months of inventory.The number of homes in escrow at the end of December is only 11 homes, however.
Dec. 13 Nov. 13 Curnt vs. Prev Month % Change Dec. 13 Dec. 12 Curnt vs. Same Month 1 Yr Ago % Change Oct. 13 to Dec. 13 Oct. 12 to Dec. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 26 32 -18.7% 26 24 8.3% 33 32 3.1%
Sold 16 13 23.1% 16 13 23.1% 14 12 16.7%
Pended 11 11 0% 11 6 83.3% 12 10 20%

The average price per square foot over the last 3 months has been $587 per sq. ft., an increase of approx. 1% over the comparable period last year. The overall market continues to be strong.

Dec. 13 Nov. 13 Curnt vs. Prev Month % Change Dec. 13 Dec. 12 Curnt vs. Same Month 1 Yr Ago % Change Oct. 13 to Dec. 13 Oct. 12 to Dec. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 609.9 563 8.3% 609.9 546.4 11.6% 586.8 581.8 0.9%
The average days on market for homes sold during the 4th quarter 2013 was about 2 to 3 months.. The percentage of original list price for homes sold is approx. 94%.
The average list price of homes for sale rose significantly in December 2013 to approx. $3.8 million. The average sold price of approx. $1.8 million during the 4th quarter is approx. the same as the comparable quarter last year. This does show that the lower priced homes are selling faster than the higher priced homes.
Dec. 13 Nov. 13 Curnt vs. Prev Month % Change Dec. 13 Dec. 12 Curnt vs. Same Month 1 Yr Ago % Change Oct. 13 to Dec. 13 Oct. 12 to Dec. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 3761 2953 27.4% 3761 3203 17.4% 3075 2869 7.2%
Avg. Sold Price 1906 1826 4.4% 1906 1593 19.6% 1757 1766 -0.5%
With26 homes listed for sale at the end of December, and sales averaging 14 homes per month during the 4th quarter 2013, this equates to about 2 months of inventory.
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.