The real estate market in the City of Rancho Palos Verdes has been very active, with sales strong and inventory down . The level of inventory of homes for sale of 61homes is down significantly with the average number of homes for sale having decreased approx. 38% compared to the end of May last year. The average number of homes sold per month over the last 3 months of 36 homes per month, is 33% higher than the comparable 3 month period last year. There are 43 homes in escrow at the end of May. Click here for a current search of homes for Sale in Rancho Palos Verdes. Scroll down to see entire report.
May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 61 59 3.4%

61 99 -38.4%

58 94 -38.3%

Sold 29 40 -27.5%

29 27 7.4%

36 27 33.3%

Pended 43 42 2.4%

43 25 72%

40 30 33.3%

The following is a list of the 29 homes sold during the month of May 2013:

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

29069 Palos Verdes DR E $960,000 4 3.00 2,745 $349.73 1965 PV12140181 5/03/13 151

4303 Via Frascati $1,085,000 3 3.00 2,964 $366.06 1974 PV13015687 5/14/13 102

3434 Newridge DR $2,100,000 4 6.00 4,492 $467.50 2000 SB13045919 5/31/13 569

3221 Dianora DR $905,000 4 2.00 2,011 $450.02 1962 S12100735 5/03/13 194

3505 Coolheights DR $939,000 4 3.00 2,025 $463.70 1971 PV13055509 5/24/13 26

20 Paseo De Castana $1,592,000 4 5.00 4,001 $397.90 1998 PV13044707 5/09/13 55

3933 Admirable DR $917,000 3 2.00 1,895 $483.91 1959 PV13021980 5/02/13 62

3931 Exultant DR $920,000 4 3.00 1,909 $481.93 1960 SB13014881 5/15/13 37

134 Seawall RD $1,302,500 3 2.00 1,365 $954.21 1950 PV13004317 5/02/13 100

30929 Via Rivera $1,204,000 3 2.00 2,064 $583.33 1960 PV13055745 5/17/13 8

30537 Rue Langlois $1,210,000 4 2.00 2,086 $580.06 1960 PV13045949 5/31/13 3

30220 Calle De Suenos $1,188,000 4 3.00 2,858 $415.68 1971 SB13004005 5/06/13 106

30170 Avenida Esplendida $1,450,000 4 4.00 3,324 $436.22 1987 PV13006030 5/01/13 104

30032 Avenida Classica $1,605,000 5 5.00 4,738 $338.75 1988 SB12129961 5/30/13 183

6872 Vallon DR $1,700,000 5 3.00 3,260 $521.47 1968 PV13051660 5/30/13 40

30178 Cartier DR $1,835,000 4 5.00 3,562 $515.16 2001 PV13040682 5/24/13 102

6925 Alta Vista DR $2,850,000 6 5.00 6,344 $449.24 1984 SB13060679 5/07/13 4

32025 Sea Ridge CR $2,850,000 5 5.00 5,207 $547.34 1987 PV13041522 5/22/13 35

28339 San Nicolas DR $1,205,000 4 2.00 2,016 $597.72 1964 PV13063006 5/21/13 22

29402 Indian Valley RD $950,000 4 3.00 2,056 $462.06 1972 SB13050097 5/16/13 26

5661 Scotwood DR $1,060,000 4 3.00 2,374 $446.50 1966 PV13050500 5/10/13 48

29137 Covecrest DR $1,675,000 4 4.00 3,141 $533.27 1966 PV13088159 5/29/13 1

5541 Elmbank RD $800,000 3 2.00 1,124 $711.74 1956 SB13064582 5/16/13 27

5824 Ironwood ST $892,500 3 2.00 1,395 $639.78 1961 SB13063611 5/20/13 9

1928 Galerita DR $642,000 3 2.00 1,479 $434.08 1958 SB13025093 5/14/13 20

28414 Pontevedra DR $680,000 3 2.00 1,479 $459.77 1958 IV13051836 5/30/13 394

1925 Avenida Aprenda $720,000 3 3.00 1,746 $412.37 1959 SB13012787 5/16/13 98

1837 Avenida Feliciano $729,000 4 3.00 2,110 $345.50 1960 SB13061085 5/03/13 4

6913 Larkvale DR $925,000 3 2.00 1,434 $645.05 1962 OC13072945 5/31/13 32

Average $1,272,103 4.0 3.10 2,662 $500 88
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $456 is approx. 4% higher than the comparable period last year, and the average price per sq. ft. for homes sold per month has increased for each of the past 3 months.
May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 477.8 466.6 2.4%

477.8 459.7 3.9%

455.6 438.2 4%

The average list price of homes offered for sale had trended downwards for the first 5 months of the year, but has increased sharply since then. and is now 83% higher than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.2 million over the last 3 months.This indicates that the lower priced homes are selling faster than the higher priced homes.
May. 13 Apr. 13 Curnt vs. Prev Month % Change May. 13 May. 12 Curnt vs. Same Month 1 Yr Ago % Change Mar. 13 to May. 13 Mar. 12 to May. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2864 2544 12.6%

2864 1562 83.4%

2729 1707 59.9%

Avg. Sold Price 1272 1211 5%

1272 1248 1.9%

1196 1176 1.7%

Properties have been taking from 2 to 3 months to sell, with the average increasing steadily over the last 4 months, and sold for 96% of the original list price
With 61 homes currently for sale, and sales averaging 36 homes per month,there is currently about 2 months of inventory
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 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.