The average number of properties listed for sale for the overall Palos Verdes Peninsula during the last 3 months is approx. 38% lower than the comparable period last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 54 over the last 3 months is about 23% higher than the comparable period last year . Pending sales in escrow have been strong , with 65 homes in escrow at the end of November, forecating continuing strong 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.
Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 126 148 -14.9% 126 211 -40.3% 147 238 -38.2%
Sold 48 55 -12.7% 48 51 -5.9% 54 44 22.7%
Pended 65 69 -5.8% 65 47 38.3% 63 46 37%

The average price per sq. ft. for homes sold over the last 3 months of $484 per sq. ft. is up 6% from the same compared to the comparable period last year. The average price per sq. ft. of homes in October did reach $501 per sq. ft. in January,near the highest in 2 years.
Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 485 501 -3.2% 485 435 11.5% 484 455 6.3%

Based on the average monthly sales of 54 homes over the last 3 months, the current inventory of 126 homes for sale equates to less than a 3 months inventory

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.3 million, up approx. 6% compared to the average price of homes sold in the comparable period last year, taking a large drop in February 2012, but then increasing and remaining steady over the last 9 months. The average listing price for homes during the last 3 months of $2.4 million has been rising steadily over the last 6 months and shows that the lower priced homes are selling faster than the higher priced homes.

Nov. 12 Oct. 12 Curnt vs. Prev Month % Change Nov. 12 Nov. 11 Curnt vs. Same Month 1 Yr Ago % Change Sep. 12 to Nov. 12 Sep. 11 to Nov. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2519 2326 8.3% 2519 2238 12.6% 2363 2234 5.8%
Avg. Sold Price 1301 1322 -1.6% 1301 1113 16.9% 1319 1246 5.9%

Days on Market to sell a property has been averaging approx. 3 months, but has decreased a bit over the last two months, and properties are selling at approx. 94% 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.