The following is the 3rd quarter 2012 Real Estate Market Report for the City of Rolling Hills Estates, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City.
The number of homes for sale has increased over the last several months to 27 homes on the market at the end of the 3rd quarter, but is still 20% lower than this time last year. Sales dropped substantially in the third quarter compared to last quarter to an average of 6 homes sold per month, which is still a 20% increase over a year ago, but with 10 homes in escrow at the end of the quarter. Due to the slowdown in sales, the inventory of unsold homes, based on the average number of homes sold during the 3rd quarter, is a bit more than 4 months.
| |
|
|
|
| |
Sep. 12 |
Aug. 12 |
Curnt vs. Prev Month % Change |
Sep. 12 |
Sep. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jul. 12 to Sep. 12 |
Jul. 11 to Sep. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| For Sale |
27 |
25 |
8% |
27 |
34 |
-20.6%  |
25 |
34 |
-26.5% |
| Sold |
4 |
9 |
-55.6% |
4 |
7 |
-42.9% |
6 |
5 |
20% |
| Pended |
10 |
8 |
25% |
10 |
7 |
42.9% |
8 |
6 |
33.3% |
|
The above chart is based only on the sales for the month calculated.
The most recent quarterly average price per sq. ft. of properties sold of $442 per s.f. showed a 9% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago. Because of the relatively small number of monthly sales, the average monthly price per sq. ft. for this city is highly dependent on the type of homes sold during the month
| |
|
|
|
| |
Sep. 12 |
Aug. 12 |
Curnt vs. Prev Month % Change |
Sep. 12 |
Sep. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jul. 12 to Sep. 12 |
Jul. 11 to Sep. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Sq. Ft. Price |
445 |
460 |
-3.4% |
445 |
384 |
15.9% |
442 |
407 |
8.5% |
|
|
|
|
As noted below, the average time to sell a home in Rolling Hills Estates has averaged from approx. 3 months during
the 2nd quarter. . The average percentage of sales price to original list price has also averaged about 96%.
|
| |
|
|
|
| |
Sep. 12 |
Aug. 12 |
Curnt vs. Prev Month % Change |
Sep. 12 |
Sep. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jul. 12 to Sep. 12 |
Jul. 11 to Sep. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Days on Market |
48 |
55 |
-12.7% |
48 |
47 |
2.1% |
52 |
63 |
-17.5% |
| Sold/Orig LP Diff. % |
99 |
95 |
4.2% |
99 |
94 |
5.3% |
96 |
94 |
2.1% |
|
|
The average list price for homes for sale during the third quarter 2012 of approx. $1.6 million is 10% higher than the comparable quarter last year. The average sale price for homes during the 3rd quarter , however is only approx. $1.3 million , indicating that lower priced homes are selling faster than higher priced homes.
| |
|
|
|
| |
Sep. 12 |
Aug. 12 |
Curnt vs. Prev Month % Change |
Sep. 12 |
Sep. 11 |
Curnt vs. Same Month 1 Yr Ago % Change |
Jul. 12 to Sep. 12 |
Jul. 11 to Sep. 11 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
| Avg. Active Price |
1509 |
1584 |
-4.7% |
1509 |
1429 |
5.6% |
1566 |
1430 |
9.5% |
| Avg. Sold Price |
1382 |
1281 |
7.9% |
1382 |
1229 |
12.4% |
1256 |
1281 |
-2% |
|
|
With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.
