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Vol. 6 | September 2020

Market Intelligence Report Palos Verdes Edition Delivering the facts and trends of the most relevant market activities as they unfold in the Palos Verdes Peninsula real estate communities

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International Lic # 00450665, 00402754, 01879720

Gerry Athas-Vazquez 310-413-4089 GerryAVRealtor.com

GerryAVrealtor@gmail.com DRE# 01742286


Palos Verdes Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout Palos Verdes

Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7


Market Intelligence Glossary Median Price:

Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.

Average Price Per Square Foot:

Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.

Properties for Sale: The number of properties that are for sale on the market.

Properties Under Contract:

The number of properties with an accepted offer however they have not closed.

Properties Sold: The number of properties that SOLD and transfered ownership.

DAYS On Market (Closed Sales):

The average number of days that properties were on ACTIVE on the market.

Months Supply Of Inventory:

This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.

Properties Pending sale:

The number of properties placed in escrow during any given month.

Absorption rate (closed sales):

This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.

Report Notes:

Reports published in September 2020 are based on data available at the end of August 2020. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed


Palos Verdes Estates AUGUST STATS Key Facts:

$2,034,000

Median Sold Price

$2,209,000

Average Sold Price

45

Median Price (in $1,000)

$1,765

$2,034

15%

Average Price Per Sq. Foot

$767

$736

-4%

Properties for Sale

81

45 -44%

Properties Pending Sales

14

22 57%

Properties Sold

22

26 18%

Days on Market (Sold Homes)

67

59 -12%

Monthly Supply of Inventory

3.7

1.7 -54%

Absorption Rate (Closed Sales) 27.2

57.8 113%

Listings for Sale

22

Listings Pending

AUGUST AUGUST % 2019 2020 Change

AVERAGE & MEDIAN PRICE $3,000 $3,500 $2,500 $3,000

26

Listings Sold

$2,209 $2,034 $2,593

$2,500 $2,000 $2,000 $1,500

59

Days On Market

$1,655

$1,500 $1,000 $1,000 $500 $500

$$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rancho Palos Verdes AUGUST STATS Key Facts:

AUGUST 2019

Median Price (in $1,000)

$1,350,000 Median Sold Price

$1,400,000

Average Sold Price

66

$1,240

$1,350

9%

Average Price Per Sq. Foot

$541

$589

9%

Properties for Sale

150

66 -56%

Properties Pending Sales

51

53 4%

Properties Sold

50

49 -2%

Days on Market (Sold Homes)

32

38 19%

Monthly Supply of Inventory

3

1.3 -57%

Absorption Rate (Closed Sales) 33.3

Listings for Sale

53

Listings Pending

Listings Sold

$2,000 $3,500 $1,800

$1,400 $1,350 $2,593

$1,400 $2,500 $1,200 $2,000

$1,655

$1,000

38

Days On Market

74.2 123%

AVERAGE & MEDIAN PRICE

$3,000 $1,600

49

AUGUST % 2020 Change

$1,500 $800 $600 $1,000 $400 $500 $200 $$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills AUGUST STATS Key Facts:

AUGUST AUGUST % 2019 2020 Change

Median Price (in $1,000)

$4,350,000

Median Sold Price

$3,722,000

Average Sold Price

17

Average Price Per Sq. Foot

Listings Pending

$4,350

10%

$655

$958

46%

Properties for Sale

19

17 -11%

Properties Pending Sales

1

3 200%

Properties Sold

2

3 50%

Days on Market (Sold Homes)

246

58 -76%

Monthly Supply of Inventory

9.5

5.7 -40%

Absorption Rate (Closed Sales) 10.5

17.6 68%

Listings for Sale

3

$3,968

AVERAGE & MEDIAN PRICE $5,000 $3,722

$3,500 $4,500

$4,350

$3,000 $4,000

3

Listings Sold

$2,593

$3,500 $2,500 $3,000 $2,000 $2,500

58

Days On Market

$1,655

$2,000 $1,500 $1,500 $1,000 $1,000 $500 $500 $$-

Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Rolling Hills Estates AUGUST STATS Key Facts:

AUGUST 2019

Median Price (in $1,000)

$1,538,000 Median Sold Price

$1,773,000

Average Sold Price

50

Average Price Per Sq. Foot

Listings Pending

$1,250

$1,538

23%

$558

$648

16%

Properties for Sale

79

50 -37%

Properties Pending Sales

33

38 15%

Properties Sold

37

29 -22%

Days on Market (Sold Homes)

33

46 39%

Monthly Supply of Inventory

2.1

1.7 -19%

Absorption Rate (Closed Sales) 46.8 58 24%

Listings for Sale

38

AVERAGE & MEDIAN PRICE $2,000 $3,500

$1,773

$1,800 $3,000 $1,600

29

Listings Sold

$1,538 $2,593

$1,400 $2,500 $1,200 $2,000 $1,000

46

Days On Market

AUGUST % 2020 Change

$1,655

$1,500 $800 $600 $1,000 $400 $500 $200 $$Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2020 2020 2020 Median

Average


Gerry Athas-Vazquez 310-413-4089 GerryAVRealtor.com

GerryAVrealtor@gmail.com DRE# 01742286

Profile for RE/MAX Estate Properties

Gerry Athas-Vazquez Market Intelligence Report Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.

Gerry Athas-Vazquez Market Intelligence Report Palos Verdes  

Delivering the facts and trends of the most relevant market activities as they unfold in the PV and surrounding real estate communities.