This year is zipping by–it’s mid July and time to take a glance back at what’s happening in the Palos Verdes housing market. Let’s check out the highs and lows, what cities are posting the most sales and other real estate tidbits that may help us gauge not only the level of real estate activity during the first half of 2014 but also be a strong indicator of what the next six month may bring. If you’re thinking of either selling or buying a Palos Verdes property these real estate facts may be a valuable resource.
Lowest Price Palos Verdes Residential Sale YTD: A condo located at 29641 S. Western Avenue, Rancho Palos Verdes is the least expensive residential property to sell on the Palos Verdes Peninsula as of July 15, 2014 per MLS records. The 2-bedroom unit was a short sale and required lender approval of the sale at $209,000.
Highest Price Palos Verdes Home Sale YTD: 8 Possum Ridge Road, Rolling Hills per MLS records is the most expensive sale. The nearly 8,000 sq. ft. view home with just under 5 acres of land sold for $6,650,000 after 785 days on the market. 22 Palos Verdes properties sold for more than $3,000,000 from January 1 to July 15. Four sold over list price, three sold at list price and the remaining sold below list price.
Number of 2014 Palos Verdes Residential Sales by city:
Rancho Palos Verdes: 227
Palos Verdes Estates: 81
Rolling Hills Estates: 62
Rolling Hills: 9
For information about real estate activity on the Palos Verdes Peninsula contact Norma Toering 310.493.8333 or Josh Toering 310.525.9440 at Charlemagne International Properties.