Health & Fitness
Blog: Palos Verdes Peninsula February 2013 Single Family Real Estate Market Report
Maureen Megowan, a realtor with Remax Estate Properties, provides a summary of the single family home real estate market for the Palos Verdes Peninsula as of the end of February 2013.
The average number of properties listed for sale for the overall Palos Verdes Peninsula at the end of February is approximately 44 percent lower than the same time 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 50 over the last 3 months is about 28 percent higher than the comparable period last year. Pending sales in escrow have been strong, with 58 homes in escrow at the end of February, 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.
The average price per square foot for homes sold over the last 3 months of $474 per square foot is up 2 precent from the same compared to the comparable period last year.
Feb. 13 Jan. 13 % Change Curnt vs. Prev Month Feb. 13 Feb. 12 % Change Curnt vs. Same Month 1 Yr Ago Dec. 12 to Feb. 13 Dec. 11 to Feb. 12 % Change Curnt vs. Same Qtr 1 Yr Ago Avg. Sq. Ft. Price 461 471 -2.1% 461 443 4.1% 474 464 2.2%Based on the average monthly sales of 50 homes over the last 3 months, the current inventory of 101 homes for sale equates to a 2-month inventory, which historically is extremely low.
Find out what's happening in Palos Verdeswith free, real-time updates from Patch.
The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.3 million, down approximately 1 percent 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 $2.8 million has been rising steadily over the last 9 months and shows that the lower priced homes are selling faster than the higher priced homes.
Feb. 13 Jan. 13 % Change Curnt vs. Prev Month Feb. 13 Feb. 12 % Change Curnt vs. Same Month 1 Yr Ago Dec. 12 to Feb. 13 Dec. 11 to Feb. 12 % Change Curnt vs. Same Qtr 1 Yr Ago Avg. Active Price 2820 2741 2.9% 2820 2193 28.6% 2765 2165 27.7% Avg. Sold Price 1369 1238 10.6% 1369 1037 32% 1346 1362 -1.2%Days on Market to sell a property has been averaging approximately 2 to 3 months, but has increased a bit over the last four months, and properties are selling at approximately 93 percent of original list price.
Find out what's happening in Palos Verdeswith free, real-time updates from Patch.
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 maureenmegowan.com. I try to make this the best real estate blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.
