The real estate market in the City of Rancho Palos Verdes has slowed over the last several months. The level of inventory of homes for sale of 83 homes at the end of May is up about 36% compared to the end of May last year. The average number of homes sold per month over the last 3 months of 28 homes per month, is 22% lower than the comparable 3 month period last year. There are 37 homes in escrow at the end of May however. Click here for a current search of homes for Sale in Rancho Palos Verdes.

May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 83 72 15.3%

83 61 36.1%

74 58 27.6%

Sold 31 24 29.2%

31 29 6.9%

28 36 -22.2%

Pended 37 27 37%

37 40 -7.5%

33 38 -13.2%

The following is a list of the 31 homes sold during the month of May 2014:

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

30717 Palos Verdes DR E $780,000 3 2.00 1,815 $429.75 1960 SB14037280 5/14/14 8
2545 Sunnyside Ridge RD $865,000 4 3.00 2,536 $341.09 1966 SB14076461 5/15/14 8
6308 Via Colinita $1,308,000 5 4.00 3,684 $355.05 1961 SB14007699 5/20/14 124
6724 Via Canada $1,425,000 4 4.00 3,008 $473.74 1964 PV14064005 5/22/14 47
2621 Colt RD $1,450,000 4 3.00 3,000 $483.33 1962 PV14075002 5/27/14 150
2731 Coral Ridge RD $1,525,000 4 4.00 3,842 $396.93 1965 PV14058292 5/21/14 38
3541 Starline DR $1,660,000 4 4.00 3,217 $516.01 1975 PV14039740 5/21/14 12
6112 Via Subida $1,935,000 3 2.00 3,166 $611.18 1966 SB14047740 5/22/14 67
2923 Vista Del Mar $4,500,000 5 7.00 6,838 $658.09 2010 SB14011781 5/23/14 439
6529 Beachview DR $1,025,000 3 3.00 2,447 $418.88 1987 SB13235045 5/06/14 134
3355 Palo Vista DR $2,650,000 5 5.00 5,442 $486.95 1990 PV13198996 5/15/14 182
5500 Palos Verdes DR S $4,275,000 5 4.00 5,000 $855.00 1929 PV14019196 5/01/14 323
6490 Sea Cove DR $4,680,000 5 7.00 7,200 $650.00 1989 PV14036969 5/23/14 64
30220 Via Victoria $970,000 3 2.00 1,752 $553.65 1961 PV14075862 5/22/14 23
7265 Berry Hill DR $1,125,000 4 3.00 2,169 $518.67 1961 SB14082754 5/21/14 28
30841 Via Rivera $1,375,000 3 2.00 2,206 $623.30 1960 PV14071233 5/07/14 10
30134 Avenida Classica $1,560,000 4 4.00 2,850 $547.37 1967 PV14080817 5/30/14 39
30176 Avenida Esplendida $1,638,000 4 4.00 3,850 $425.45 1985 WS14041776 5/23/14 127
30344 Rhone DR $1,702,500 4 5.00 3,727 $456.80 1971 PV14022791 5/24/14 127
30052 Avenida Classica $2,775,000 5 5.00 5,868 $472.90 2001 SB14069508 5/16/14 5
6044 Scotmist DR $1,260,000 4 3.00 2,166 $581.72 1967 PV14058671 5/20/14 31
26500 Hawkhurst DR $1,960,000 4 5.00 4,645 $421.96 1966 SB14043427 5/07/14 124
26582 Basswood AV $990,000 3 2.00 1,669 $593.17 1956 PV14092570 5/27/14 22
27131 Pembina RD $1,200,000 4 3.00 2,310 $519.48 1958 SB14016095 5/30/14 120
2058 W Macarthur ST $699,000 3 2.00 1,546 $452.13 1955 SB14096820 5/06/14 37
29604 N Enrose AV $710,000 3 2.00 1,322 $537.07 1955 PV14063292 5/07/14 31
28002 Pontevedra DR $740,000 4 2.00 1,800 $411.11 1959 PV14061441 5/28/14 65
29403 N Enrose AV $775,000 2 2.00 2,126 $364.53 1959 SB13229305 5/15/14 182
1948 Peninsula Verde DR $820,000 4 3.00 2,285 $358.86 1970 SB14057176 5/02/14 1
28608 Mount Shasta DR $829,900 3 2.00 2,100 $395.19 1974 DW14052174 5/08/14 56
2056 Van Karajan DR $906,000 3 3.00 2,029 $446.53 1963 SB14056273 5/08/14 37
Average $1,616,561 4.0 3.40 3,149 $513 86
The average price per sq. ft. for homes sold in Rancho Palos Verdes over the last 3 months of $519 is approx. 14% higher than the comparable period last year.
May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 513.4 523.1 -1.9%

513.4 477.8 7.4%

518.9 455.6 13.9%

The average list price of homes offered for sale of $1.9 million is now 32% lower than this time last year. The average price of homes sold has been much lower than the average list price of homes, averaging $1.4 million over the last 3 months, an 18% increase over the comparable period last year.This indicates that the lower priced homes are selling faster than the higher priced homes.
May. 14 Apr. 14 Curnt vs. Prev Month % Change May. 14 May. 13 Curnt vs. Same Month 1 Yr Ago % Change Mar. 14 to May. 14 Mar. 13 to May. 13 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 1949 2088 -6.7%

1949 2864 -31.9%

2106 2729 -22.8%

Avg. Sold Price 1616 1230 31.4%

1616 1272 27%

1415 1196 18.3%

Properties have been taking about 2 months to sell and sold for 96% of the original list price
With 83 homes currently for sale, and sales averaging 28 homes per month,there is currently 3 months of inventory
Combined with 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.