Palos Verdes Lifestyle - Norma Toering 310-493-8333

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The 7 Year Analysis for Palos Verdes Real Estate Performance

Palos Verdes Market Update 2015

 

Donald Trump is often quoted, as saying there is no bad press, although the real estate industry might beg to differ since so much of the press it received in 2007 was negative.

 

 Since all real estate is local, it is misleading to look at it as a national statistic.  Here are a few uplifting numbers and facts for Rolling Hills, Palos Verdes Estates, Rolling Hills Estates and Rancho Palos Verdes-zip codes 90274 and 90275 in Southern California.

 

The Palos Verdes Peninsula (includes all four cities mentioned above) statistics for 2007 with comparable 2015 numbers for a side-by-side analysis:

211 single family residences listed for sale.    ( March 2015 there are 144)

38 single family residences in escrow.          (March 2015 there are 113 properties in escrow)

495 single family residences sold in 2007 (as of 11/16).  (649 single family homes sold from 3/15/14-3/15/15)

Current inventory of homes for sale is down, sales are up.  The takeaway from these real estate numbers is lack of inventory is the largest issue the local Palos Verdes market faces as we head into the high selling season of 2915.

 

Highest price paid YTD for a home on the Palos Verdes Peninsula in 2007:

Palos Verdes Estates:   $8,650,000     Highest 2015 sale:  $15,550,000 as of March 15.

Rancho Palos Verdes:  $6,999,000     Highest 2015 sale:  $3,200,000 as of March 15.

Rolling Hills:                 $6,500,000      Highest 2015 sale:  $540,000,000 as of March 15.

Rolling Hills Estates:   $2,800,000      Highest 2015 sale:  $3,017,000 as of March 15

 

Lowest price paid YTD for a home on the Palos Verdes Peninsula in 2007:

Rolling Hills Estates:   $965,000    2015 lowest price:  $965,000

Palos Verdes Estates:   $940,000   2015 lowest price:  $799,000

Rolling Hills                  $810,000    2015 lowest price for Rolling Hills:  $2,924,000

Rancho Palos Verdes:  $548,900   2015 lowest price for Rancho Palos Verdes:  $585,000

  

Least expensive home for sale on the Palos Verdes Peninsula:

Rancho Palos Verdes:  $599,000 in 2007.     2015 lowest price home:  Rancho PV for $649,000     

  

Most expensive home for sale on the Palos Verdes Peninsula in 2007:

Rolling Hills:  $23,000,000                      

Most expensive home for sale 2015:  $53,000,000 located in Rolling Hills.

 

The takeaway is the Palos Verdes real estate market has gained back the losses suffered during the recession years, and is some areas, such as entry level and luxury homes, is exceeding 2007 prices. 

Whether you are in the real estate market for home in a top rated school district or a luxury estate, there is a property that meets your needs in Palos Verdes.  From the gated city of Rolling Hills, to the coastal luxury mansions of Palos Verdes Estates and Rancho Palos Verdes a variety of styles and price are always available.  Call the PV Pro at 310.493.8333 for a tour of homes tailored to your unique needs.

 

 

 

Sell Smart, Buy Wise and Live Well

Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Comments

Norma Toering Broker for Palos Verdes and Beach Cities - Your real estate market update for the Rancho Palos Verdes area shows potential buyers and sellers why they need to work with a local real estate professional like yourself - great market data and insight!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) over 3 years ago

Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com Viewed from a seven year historical viewpoint, there is no question the Palos Verdes real estate market recovered and then some!

I added some personal knowledge while compiling this side-by-side comparison.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 3 years ago

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