The single family home market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) was at a seasonable level during the 2nd quarter of 2019 with 37 homes on the market at the end of June, a large 68% increase from the prior year. The number of properties sold monthly over the last 3 months is averaging 8 sales a month, a 5% increase compared to the comparable period last year. There are only 5 homes in escrow,however, as of the end of June with contingencies removed, a 37% decrease over this time last year.
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The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) averaged $608 per sq. ft. over the last 3 months, an approx. 10% increase from the comparable period a year ago.
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Based on the average monthly sales for the last 3 months of 8 homes and the 37 homes listed for sale, there is currently about 5 months inventory of unsold homes. The chart below is based upon the most recent month’s sales of 9 homes
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The average list price of homes in Rolling Hills Estates over the last 3 months has been averaging $2,152,000, a 1% increase over the comparable period last year. The average price of homes sold over the last three months was $1,758,000 a 3% decrease compared to the similar period last year.
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The time period to sell a home has averaged about 1-2 months over the last quarter, and homes have sold for an average of 95% of list price
For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.
