The City of Rolling Hills Estates Real Estate Market during the 4th quarter of 2013, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City, has shown relatively strong sales, however sales slowed considerably in December due to very low inventoy of unsold homes.
The number of homes for sale at the end of December of 5 homes is 55% less than the same time last year. The average number of homes sold per month in the 4th quarter of 8 is 27% less than the comparable quarter last year primarily due to very low inventory, with 4 homes in escrow at the end of the quarter. This equates to less than 1 months inventory.
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 $508 per s.f. showed a 12% increase in price per sq. ft. for properties sold compared to the comparable quarter a year ago.
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Dec. 13 |
Nov. 13 |
Curnt vs. Prev Month % Change |
Dec. 13 |
Dec. 12 |
Curnt vs. Same Month 1 Yr Ago % Change |
Oct. 13 to Dec. 13 |
Oct. 12 to Dec. 12 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
Avg. Sq. Ft. Price |
600.8 |
475.1 |
26.4%
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600.8 |
455.9 |
31.8%
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508.1 |
452.8 |
12.2%
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The average list price for homes for sale at the end of the fourth quarter 2013 of approx. $2.1 million is 25% greater than this time last year. The average sale price for homes during the 4th quarter of $1.3 million shows that lower priced homes are selling faster than higher priced homes.
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Dec. 13 |
Nov. 13 |
Curnt vs. Prev Month % Change |
Dec. 13 |
Dec. 12 |
Curnt vs. Same Month 1 Yr Ago % Change |
Oct. 13 to Dec. 13 |
Oct. 12 to Dec. 12 |
Curnt vs. Same Qtr 1 Yr Ago % Change |
Avg. Active Price |
2101 |
1991 |
5.5%
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2101 |
1681 |
25%
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1866 |
1654 |
12.8%
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Avg. Sold Price |
1197 |
1228 |
-2.5%
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1197 |
1366 |
-12.4%
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1314 |
1316 |
-0.2%
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With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.