The real estate market in the City of Rancho Palos Verdes has been active, with sales strong and inventory down . The level of inventory of homes for sale of 81 homes is down significantlywith the average number of homes for sale having decreased approx. 43%compared tothe end ofAugust last year. Sales over the last 3 months have averaged31 homes, which is a decrease of 11% from the comparable quartrer last year.There are39 homes in escrow at the end of July.Click here for a current search of homes for Sale in Rancho Palos Verdes.

Aug. 12 Jul. 12 Curnt vs. Prev Month % Change Aug. 12 Aug. 11 Curnt vs. Same Month 1 Yr Ago % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 81 91 -11% 81 143 -43.4% 94 142 -33.8%
Sold 33 29 13.8% 33 33 0% 31 35 -11.4%
Pended 39 37 5.4% 39 38 2.6% 37 38 -2.6%
The following is a list of the33 homes sold during the month ofAugust 2012:
Address Sales Price Bd Bth Sqft $/Sq Yr.Built ML#Sold DateDays on Market

2818 Colt RD $1,000,000 3 3.00 2,584 $387.00 1979 V12050923 8/03/12 82

4121 Miraleste DR $1,065,000 4 3.00 2,374 $448.61 1954 12576427 8/29/12 224

6520 Via Lorenzo $1,110,000 3 3.00 2,375 $467.37 1936 V12047554 8/03/12 109

30035 Grandpoint LN $1,200,000 5 3.00 3,177 $377.71 1969 V12003837 8/01/12 190

2615 Sunnyside Ridge RD $1,250,000 4 3.00 2,822 $442.95 1956 N11028745 8/29/12 515

3420 Coolheights $1,100,000 4 3.00 2,244 $490.20 1969 V12078811 8/03/12 41

6519 Sandy Point CT $995,000 4 4.00 3,036 $327.73 1987 V12062119 8/30/12 111

32227 Phantom DR $1,150,000 4 2.00 2,054 $559.88 1963 V12079683 8/23/12 58

108 Spindrift DR $1,300,000 2 2.00 1,669 $778.91 1953 S11078405 8/31/12 383

31986 Emerald View DR$1,800,000 5 7.00 12,000 $150.00 2011 S11107833 8/13/12 602

7460 Alida PL $1,929,000 6 6.00 4,959 $388.99 1999 V12095082 8/30/12207

29916 Avenida Magnifica $985,000 4 3.00 2,828 $348.30 1962 H12025375 8/17/12 249

29413 Seaspray DR $1,185,000 4 3.00 2,968 $399.26 1966 V12079097 8/21/12 88

31018 Marne DR $3,815,000 5 6.00 6,002 $635.62 2004 V12060693 8/31/12 102

68 Sea Breeze AV $1,599,000 4 4.00 3,727 $429.03 1999 V12041712 8/30/12148

5918 Ocean Terrace DR$2,500,000 5 4.00 5,314 $470.46 1987 S12068496 8/16/12 295

6334 Rio Linda DR $850,000 3 2.00 1,434 $592.75 1962 V12088410 8/21/12 17

5650 Sunmist DR $775,000 4 3.00 2,539 $305.24 1965 12596091 8/31/12 15

6104 Scotmist DR $981,000 4 3.00 2,553 $384.25 1973 V12073409 8/10/12 3

28615 Coveridge DR$1,120,000 5 3.00 2,265 $494.48 1972 S12083973 8/22/12 29

5008 Golden Arrow DR$865,000 3 3.00 1,896 $456.22 1967 S12063962 8/03/12 38

26642 Honey Creek RD$955,000 4 3.00 2,246 $425.20 1965 S12048509 8/01/12 84

27525 Larchbluff DR $1,035,000 5 3.00 2,386 $433.78 1965 S12054564 8/08/12 41

27017 Silver Moon LN $1,150,000 4 3.00 2,794 $411.60 1967 S12038944 8/29/12 121

26851 Grayslake RD $733,000 3 2.00 1,395 $525.45 1960 R1203742 8/31/12 19

5314 Montemalaga DR$750,000 3 2.00 1,780 $421.35 1962 S12057435 8/15/12 10

26608 Fond Du Lac RD $825,000 4 2.00 1,682 $490.49 1957 V12002940 8/16/12 197

5746 Wildbriar DR $935,000 4 2.00 2,479 $377.17 1961 V12075216 8/23/1229

5916 Clint PL$1,101,000 4 2.00 2,435 $452.16 1960 V12079385 8/21/12 52

5900 Mossbank DR $1,275,000 4 4.00 2,966 $429.87 1979 S12070336 8/06/12180

1954 W General ST $525,000 3 2.00 1,378 $380.99 1955 S12032539 8/31/12 124

2029 Trudie DR $551,000 2 2.00 1,467 $375.60 1950 V12060299 8/28/12 101

2156 W Crestwood ST $622,000 3 2.00 1,298 $479.20 1955 V12083499 8/27/12 37

2024 Redondela $665,000 4 2.00 1,790 $371.51 1962 V12062863 8/14/12 90

1928 Avenida Estudiante $680,000 4 2.00 1,864 $364.81 1959 S12077968 8/24/12 0

Average $1,153,600 4.0 3.00 2,822 $436133
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $412isdown approx. 3% compared to the comparable period last year.
Aug. 12 Jul. 12 Curnt vs. Prev Month % Change Aug. 12 Aug. 11 Curnt vs. Same Month 1 Yr Ago % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 410 416 -1.6% 410 425 -3.5% 412 426 -3.3%
It has been taking an average of 3 to 4 months to sell a home in Rancho Palos Verdes. Properties are selling for
approx. 93% of original list price.
The average list price of homes offered for sale had trended downwardsfor the first 5monthsof the year, but then picked up again the last3 months,but is approx.8% lower thanthe the comparable 3 month period last year.The average price of homes sold has been much lower than the average list price of homes but did increase in August..
The number of months inventory, based upon the average monthly sales over the last 3 months ,has also decreased toless than3 months of inventory, historically very low
Combined with record low interest rates, now is an excellent time to consider buying a home.
For other market reports for the Palos Verdes Peninsula, go toMarket Reportson mywebsite.

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.