Third Quarter 2011 Market Analysis for Palos Verdes Peninsula Condos and Townhomes
The average price per sq. ft. for townhomes and condos on the Palos Verdes Peninsula has fallen approx. 7% compared to the third quarter of last year. Prices in a few projects , such as the Palos Verdes Bay Club have fallen more than this. Pricing has improved for condos and townhomes during the third quarter of 2011 after dropping significantly during the prior quarter.
Curnt vs. Prev Month |
Curnt vs. Same Month 1 Yr Ago |
Curnt vs. Same Qtr 1 Yr Ago |
|||||||
Sep. 11 |
Aug. 11 |
% Change |
Sep. 11 |
Sep. 10 |
% Change |
Jul. 11 to Sep. 11 |
Jul. 10 to Sep. 10 |
% Change |
|
Avg. Sq. Ft. Price |
296 |
320 |
-7.5% |
296 |
363 |
-18.5% |
327 |
347 |
-5.7% |
As far as picking up condos in this market for less than construction costs, the average price per sq. ft. paid recently for condos and townhomes in Palos Verdes has been approx. $327 per sq. ft. I would not consider this price to be significantly less than replacement cost including the cost of the land.
The following is a chart of Palos Verdes Peninsula condos and townhomes for sale and sold over the last year
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I have been very involved in the condo and townhome market on the Palos Verdes Peninsula. You can see that by “Googling” the search term ” Palos Verdes Condos” and you will see that my website is the first listing on page one of the search results. To check out the various condo and townhome projects on the Palos Verdes Peninsula, see the following link on my website: PV Condos & Townhomes / Townhouses. Each of these project descriptions have an analysis of recent prices paid for sales in each project. You can also see the latest listings for condos and townhomes in Palos Verdes on my website at the following link: MLS Listings – South Bay and PV
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.