The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of May of 174 properties is 28% greater than the same time last year, however the average number of homes sold per month of 52 over the last 3 months is about 20% lower than the comparable period last year. Pending sales in escrow have recently increased considerably, however, with 66 homes in escrow at the end of May, forecasting stronger sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.

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 174 156 11.5%

174 136 27.9%

158 127 24.4%

Sold 60 50 20%

60 62 -3.2%

52 65 -20%

Pended 66 56 17.9%

66 66 0% 61 68 -10.3%

The average price per sq. ft. for homes sold over the last 3 months of $560 per sq. ft. is up 11% from the same compared to the comparable period last year and has been trending up over the last 11 months.
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 545.3 550.9 -1%

545.3 518.8 5.1%

559.9 504.6 11%

Based on the average monthly sales of 52 homes over the last 3 months, the current inventory of 174 homes for sale equates to between a 3 to 4 months inventory, which historically is still extremely low.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.6 million, up approx. 13% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $3.0 million is up approx. 4% over the comparable period last year .These statistics show that 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 3090 2934 5.3%

3090 2933 5.4%

3014 2911 3.5%

Avg. Sold Price 1700 1463 16.2%

1700 1464 16.1%

1595 1406 13.4%

Days on Market to sell a property has been averaging approx. 2 months, and properties are selling at approx. 97% of original list price.
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.