PALOS VERDES REAL ESTATES MARKET UPDATE

As of today:
There are 227 homes for sale in Palos Verdes

They start at $699,000 and range up to $12,800,000

The average asking price for a home on the Peninsula is currently: $2,347,049

The average days on market is 111 days

There are 110 homes currently in escrow(this means under contract either pending or contingent)

Of these 110 homes in escrow the average list price is $1,516,637. Lowest priced home in escrow: $639,900
Highest priced home in escrow: $5,500,000

The average market time for homes in escrow is 96 days.

Since the first of the year 139 homes has sold on the Peninsula.

The average market time for sold listings is 102 days on market

The average sold price is $1,611,299 up from last weeks sold average up $1,492,724
 

Palos Verdes Neighborhoods

There are 16 designated neighborhoods for the Multiple Listing Service for Palos Verdes They are:
Lunada Bay area 160
Monte Malaga area 162
Malaga Cove area 163
Valmonte area 164
Palos Verdes Drive North 165
Rolling Hills area 166
Palos Verdes Drive East area 167
Mira Catalina area 168
Palos Verdes drive South area 169
West Palos Verdes area 170
Country Club area 171
La Cresta area 172
Los Verdes area 173
Crest area 174
Peninsula Center area 175
Silver Spur area 176

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago   Mar. 11 Feb. 11 % Change Mar. 11 Mar. 10 % Change Jan. 11 to Mar. 11 Jan. 10 to Mar. 10 % Change For Sale 239 209 14.4% 239 208 14.9% 214 200 7% Sold 43 32 34.4% 43 49 -12.2% 37 37 0%     Pended 65 43 51.2% 65 59 10.2% 51 48 6.3%

Date 1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10 9/10 10/10 11/10 12/10 1/11 2/11 3/11 For Sale 200 192 208 226 238 260 282 275 262 254 221 188 193 209 239 New Listing 74 63 101 94 99 85 106 92 71 68 51 42 69 82 110 Sold 30 32 49 47 57 51 54 40 56 46 18 48 37 32 43 Pended 47 38 59 52 53 56 38 58 38 44 38 36 46 43 65 Months of Inventory (Closed Sales) 6.7 6 4.2 4.8 4.2 5.1 5.2 6.9 4.7 5.5 12.3 3.9 5.2 6.5 5.6 Months of Inventory (Pended Sales) 4.3 5.1 3.5 4.3 4.5 4.6 7.4 4.7 6.9 5.8 5.8 5.2 4.2 4.9 3.7 Absorption Rate (Closed Sales) % 15 16.7 23.6 20.8 23.9 19.6 19.1 14.5 21.4 18.1 8.1 25.5 19.2 15.3 18 Absorption Rate (Pended Sales) % 23.5 19.8 28.4 23 22.3 21.5 13.5 21.1 14.5 17.3 17.2 19.1 23.8 20.6 27.2 Avg. Active Price 2617 2622 2440 2454 2486 2446 2316 2235 2158 2089 2195 2251 2264 2311 2240 Avg. Sold Price 1297 1368 1228 1311 1422 1366 1332 1242 1464 1438 1164 1375 1246 1361 1728 Avg. Sq. Ft. Price 467 485 479 490 500 489 497 482 492 480 472 492 459 493 510 Sold/List Diff. % 97 93 95 96 96 97 96 96 95 96 97 96 94 95 91 Sold/Orig LP Diff. % 91 87 90 93 93 95 94 92 91 92 91 92 90 92 87 Days on Market 70 107 93 92 80 75 55 58 66 60 96 72 79 95 77 Median 1050 1109 1000 1210 1150 1250 1131 1150 1168 1125 1038 1160 995 990 1395

* All reports are published April 2011, based on data available at the end of March 2011. All reports presented are based on data supplied by the CARETS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.