Health & Fitness
Palos Verdes Peninsula April 2012 Single Family Real Estate Market Report
Palos Verdes Peninsula (all cities) April 2012 single family real estate market report.
The average number of properties listed for sale for the overall Palos Verdes Peninsula during the last three months is approximately 35 percent 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 47 over the last three months is about 21 percent higher than the comparable period last year. Sales over the last three months have continued to increase, with 55 sales in April 2012. Pending sales in escrow have also increased to 68 homes, a 21 percent increase over the comparable period last year, forecasting a continuing increase in sales over the next two months.
The average price per square foot for homes sold over the last three months of $457 per square foot is down approximately 9 percent over the comparable period last year, but the average price per square foot of homes sold in April of $486 is only 4 percent lower than April 2011. The average price per square foot of homes sold in 2011 had been relatively steady, but has fluctuated a bit the last three months, but did reach $508 per square foot in January, the highest in two years.
Apr. 12 Mar. 12 % Change Curnt vs. Prev Month Apr. 12 Apr. 11 % Change Curnt vs. Same Month 1 Yr Ago Feb. 12 to Apr. 12 Feb. 11 to Apr. 11 % Change Curnt vs. Same Qtr 1 Yr Ago Avg. Sq. Ft. Price 486 434 11.9% 486 508 -4.2% 457 503 -9.2%
Based on the average monthly sales of 47 homes over the last three months, the current inventory of 180 homes for sale equates to less than four months inventory.
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The average price of the homes sold on the Palos Verdes Peninsula during the last three months was $1.2 million, down approx. 16% compared to the average price of homes sold in the comparable period last year, taking a large drop in February 2012, but then increasing in April. The average listing price for homes during the last three months of $2.2 million shows that the lower priced homes are selling faster than the higher priced homes.
Apr. 12 Mar. 12 % Change Curnt vs. Prev Month Apr. 12 Apr. 11 % Change Curnt vs. Same Month 1 Yr Ago Feb. 12 to Apr. 12 Feb. 11 to Apr. 11 % Change Curnt vs. Same Qtr 1 Yr Ago Avg. Active Price 2215 2248 -1.5% 2215 2095 5.7% 2222 2102 5.7% Avg. Sold Price 1369 1178 16.2% 1369 1248 9.7% 1215 1444 -15.9%Days on market to sell a property has been averaging approximately three 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.
