The number of homes listed for sale in the City of Palos Verdes Estates dropped significantly at the end of 2011, and remains very low. with only 37 homes listed for sale at the end of October, which is 50% lower than the same time a year ago. The number of homes sold over the last 3 months, averaging 12 sales per month, is the same as the same period last year. This equates to only about 3 months of inventory.The number of homes in escrow at the end of the quarter is 12 homes. Click Here for a search for homes currently for sale in the City of Palos Verdes Estates. Make sure and scroll down to see entire report below.

Due to the low inventory of homes, properly priced homes are often receiving multiple offers in this market.

The following is a list of the 11 homes sold during the month of November 2012:

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

1305 Via Zumaya $1,175,000 4 3.00 3,106 $378.30 1976 V12096644 11/30/12 238

1733 Dalton RD $1,350,000 4 3.00 2,514 $536.99 1971 V12061039 11/09/12 157

1133 Via Zumaya $1,400,000 4 4.00 3,449 $405.91 1979 S12116185 11/16/12 58

1453 Via Coronel $1,735,000 4 3.00 3,928 $441.70 1977 V12119271 11/30/12 64

2863 Via Victoria $1,800,000 5 5.00 5,406 $332.96 1981 V12054357 11/07/12 1,177

2108 Paseo Del Mar $2,000,000 4 3.00 2,255 $886.92 1956 V12126154 11/14/12 0

1121 Via Zumaya $2,650,000 5 5.00 4,115 $643.99 2005 S12118202 11/20/12 54

2100 Paseo Del Mar $2,725,000 5 3.00 3,668 $742.91 1955 S12125111 11/30/12 55

145 Rocky Point RD $5,000,000 5 6.00 5,178 $965.62 2002 V11119364 11/14/12 414

2524 Via Pinale $1,220,000 4 2.00 1,914 $637.41 1967 V12116927 11/02/12 8

3908 Via Valmonte $865,100 3 2.00 1,317 $656.87 1953 S12114976 11/27/12 14

Average $1,992,736 4.0 3.50 3,350 $595 204

Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 31 37 -16.2% 31 68 -54.4% 35 74 -52.7%
Sold 11 10 10% 11 15 -26.7% 11 11 0%
Pended 11 12 -8.3% 11 13 -15.4% 12 14 -14.3%

The average price per square foot over the last 3 months has been $569 per sq. ft., an increase of approx. 12% over the comparable period last year. The overall market appears to have stabilized. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.

Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 595 630 -5.5% 595 457 30.3% 598 485 23.2%
The average days on market for homes sold during last 3 months was about 3 to 4 months. The percentage of list price for homes sold is approx. 94%.
The average list price of homes for sale at the end of October is aprox. $2.7 million. The average sold price of approx. $1.9 million during the last three months is approx. 39% higher than the comparable 3 months last year. This shows that higher priced homes are selling better now than a year ago, however the lower priced homes are selling faster than the higher priced homes.
Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2741 2673 2.5% 2741 2549 7.5% 2769 2480 11.7%
Avg. Sold Price 1992 1799 10.7% 1992 1040 91.5% 1902 1174 62%
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 to Market Reports on my website.

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.