Rolling Hills Estates November 2015 Real Estate Market Report

The number of properties on the market in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) is 14 homes at the end of November, a 30% decrease from the prior year. The number of properties sold monthly over the last 3 months is averaging 8 sales a month, a 25% increase compared to the comparable period last year. There are 9 homes in escrow as of the end of November.

The following is a list of the 5 homes sold in the City of Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) during the month of November 2015:

The average price per square foot for homes sold in Rolling Hills Estates ( including the unincorporated area of Palos Verdes Peninsula ) averaged $551 per sq. ft. over the last 3 months, an approx. 11% decrease from the comparable period a year ago.

Based on the average monthly sales for the last 3 months of 8 homes and the 14 homes listed for sale, there is currently less than 2 months inventory of unsold homes. The chart below is based upon the most recent month’s sales.

The average list price of homes in Rolling Hills Estates over the last 3 months has been averaging $1,828,000, a 3% decrease over the comparable period last year. The average price of homes sold over the last three months was $1,584,000 a 30% decrease over the similar period last year, which was caused by an unusual average selling price for homes sold during the month of October last year.

The time period to sell a home has averaged about 1 to 2 months over the last quarter, and homes have sold for an average of 94% of list price

For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.