Have you been wondering what has been happening in the Palos Verdes real estate market? Well, here is my quarterly update for the first quarter of 2014 on the Palos Verdes Peninsula.
It has been a fairly quiet winter for sales in Rancho Palos Verdes, Palos Verdes Estates, Rolling Hills Estates and Rolling Hills but prices were strong.
To start with, let's look at standard listings for 3 bedroom/2bath single family homes to get a feel for what has been going on. The number of these houses sold in the first quarter or 2014 is almost flat, down just 4% from 2013 However, their average prices have increased 21% from 2013!
Now if we look at all sales, single family and townhomes and condos across the entire peninsula, we see similar results. The number of homes sold in the first quarter is down 13%. The number of listings is also down, by 10%. The average home price for the first quarter of 2014 is up 17% from 2013.
This is a great time for folks would like to sell their home to put it on the market. It is a difficult market for buyers and we are seeing multiple offers on good homes priced at market value.
Please contact me if you would like a free market value estimate for your home. 310-265-2171
For more information please visit my website www.palosverdessouthbayrealestate.com
