South Bay Market Data Report 1st Quarter 2018

South Bay Market Data Report 1st Quarter 2018

Tuba - Torrance market data 1st qtr

The Torrance Market Data Report for the 1st quarter of 2018 shows a total of 55 homes closed escrow, compared to 55 homes that sold in the first three months of 2017. The average price for Torrance homes sold in these three months was $984,362 compared to $899,360 in 2017, which is an increase of 9.5%. The average price per square foot during these three months was $583 compared to $575 in 2017, which is a 1.3% increase. The area that sold the most homes during this time was Hollywood Riviera with a total number of 12. Coming in second was West Torrance with 7 closed sales, and North Torrance East had 6 sales.

Currently, Torrance has 110 homes for sale. There are 82 single family homes for sale starting at $425,000 for a 1 bedroom/1 bath, 630 square foot home, to $2,698,000 for a 5 bedroom/ 5 bath, 4,502 square foot home. There are 28 condo/townhomes for sale starting at $250,000 for a 1 bedroom/1 bath, 639 square foot condo, to $895,000 for a 3 bedroom/4 bath, 2,446 square foot condo/townhome.

Click on the above report to enlarge data.

If you have any questions about the South Bay real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Palos Verdes Market Data Report 1st Quarter 2018

Palos Verdes Market Data Report 1st Quarter 2018

Tuba - Market Report lst qts 2018

The Palos Verdes Market Data Report for the 1st quarter of 2018 shows a total of 140 homes closed escrow, compared to 133 homes that sold in the first three months of 2017. The average price for Palos Verdes homes sold in these three months was $1,755,771 compared to $1,797,913 in 2017, which is a -2.3% decrease. The average price per square foot during these three months was $653 compared to $633 in 2017, which is a 3.2% increase.
The area that sold the most homes during this time was Palos Verdes Drive North with a total of 17. Coming in second was the Lunada Bay/Margate area with 16 closed sales, and Valmonte & Palos Verdes Drive East both had 13 sales.

Currently, the Palos Verdes has 188 homes for sale. There are 159 single family homes for sale starting at $839,000 for a 2 bedroom/2 bath, 1,080 square foot home, to $40,000,000 for a 9 bedroom/26 bath, 51,000 square foot home. There are 29 condo/townhomes for sale starting at $424,868 for a 1 bedroom/2 bath, 864 square foot unit, to $1,995,000 for a 2 bedroom/3 bath, 1,940 square foot condo/townhome.

Click on the above report to enlarge data.

If you have any questions about the Palos Verdes real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

How Do Appreciation Rates Reflect On Home Mortgages?

How Do Appreciation Rates Reflect On Home Mortgages?

Property Appreciation Rates 4-_004

Recently, Victor Samaan of Bank of America sent over this appreciation map to show how the rates vary throughout the states. It was amazing to see the overall rates of the state of California, and how it relates to the rest of the country. Here is how it was presented.

The map illustrates the top states for property appreciation rates year over year. Property appreciation is calculated based on repeat sales of the same properties, which can avoid the problem of trying to account for price differences in homes with varying characteristics. Increasing home prices usually indicate rising demand, while decreasing prices reflect falling demand.

All states saw property appreciation versus one year ago, with Washington, Nevada, Utah, Idaho and South Dakota leading as the top five. Washington’s property appreciation rate was the highest at 12.1% in January 2018. The data suggests that home values are growing really fast across the country.

Overall, property appreciation rates were higher in the western half of the United States. The national average property appreciation rate was 5.46%, with 23 states falling below the average.

Click on the graph to enlarge. Photo courtesy of the Bank of America.

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Palos Verdes January 2018 Neighborhood Closed Sales

Palos Verdes January Neighborhood Closed Sales

remax january

Palos Verdes closed sales for the month of January were 41 a 5.1% change from 2017. This number represents all 17 neighborhoods on the peninsula. Lunada Bay/Margate & Palos Verdes Drive East both showed the highest number of closed sales for the month (5). Last years January sales 2017, showed 6 for Lunada Bay and 3 for Palos Verdes Drive East.

The average sale price for January sales was $1,734,679 which was down from 2017 by -4.5%. The average square foot home was 2,733. The highest priced home that sold in January was $5,000,000 and the lowest home price sold was $700,000. The average square foot price for January sales was $509 compared to $493 in 2017. The medium sales price for January 2018 was $1,450,000, and $1,531,000 for Jauary 2017.

Currently, there are 144 homes for sale here on the Peninsula. They are priced from $849,000 for a 2 bedroom/2 bath, 1,543 square foot home in Eastview/RPV, to $40,000,000 for a 9 bedrooms/25 bath, 51,000 square foot home in Rolling Hills. There are 19 condo/townhomes for sale from $369,900 for a 1 bedroom/1 bath, 659 square foot condo in Rancho Palos Verdes, to $1,995,000 for a 2 bedroom/3 bath, 1,940 square foot condo in Rancho Palos Verdes.

Click on photo to enlarge.

If you have any questions about the Palos Verdes real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Palos Verdes Neighborhoods Sales 2017

Palos Verdes Neighborhoods Sales 2017

Wolf connect year end 2017

Palos Verdes home sales for the year 2017 were 684, a slight decrease from the 692 homes that sold in 2016. The Lunada Bay/Margate area posted the highest number of homes sold in 2017. They had 71 sales, down from the 73 that were sold in 2016. The area of Monte Malaga had the highest gain in their home sales with 42 in 2017 and only 27 in 2016. Valmonte showed greater home sales with 52 sold in 2017, up from the 39 homes that sold in 2016, and Palos Verde Drive East showed 63 homes sold in 2017 and only 54 in 2016. The areas of Mira Catalina, Country Club, Peninsula Center and Silver Spur showed some gains in the number of homes sales, while Los Verdes showed the same 52 for both years. All of the other neighborhoods had a decrease in their sale numbers from the year 2016.

The chart above is courtesy of RE/MAX Estate Properties. For a larger view just click on it.


If you have any questions about the Palos Verdes real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

South Bay Fourth Quarter Sales Summary

South Bay Fourth Quarter Sales Summary

2017 4th qtr summary - remax_002

South Bay real estate sales for the fourth quarter showed great closing numbers for the many cities. El Segundo showed 38 closed sales, Gardena showed 122, Hawthorne showed 101, Hermosa Beach showed 51, Lawndale showed 42, Lomita showed 34, Manhattan Beach showed 89, Redondo Beach showed 188 and Torrance showed 259 closed sales.

To read more about the comparisons between October 2016 to December 2017, or for the average price per foot, number of homes for sale in this quarter, pending sales or days on market, go to the RE/MAX Market Intelligence Report listed below.

For more information on the RE/MAX South Bay Market Intelligence Report click here.

If you have any questions about the real estate market in this area, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Do Palos Verdes Staged Homes Sell Faster?

Do Palos Verdes Staged Homes Sell Faster?

Home for sale_003
Palos Verdes homes owners are asking the question does Home Staging sell my home faster? The Real Estate Staging Association has said in the past that those homes professional staged usually sold in half the time as those not staged. They actualy believe that staging your home increases the dollar value that buyers are willing to offer.

Home staging seems to be more appealing to buyers since it shows more of the potential of a home. Whether it be inclusive of such tasks as painting, staining or just adding color to a room by decorating, that fresh appearance makes buyers visualize the potential in the home.

The most important rooms that are usually staged are the living room, kitchen, dining room, master & children’s bedrooms and bathroom. Staged homes are generally decluttered and have a way of showing the most positive attributes of the room. It’s been said that most buyers seem to form some sort of opinion about a home within the first 10 seconds of arriving. Since buyers seem to be previewing homes on the internet, it is important that the homes staged photography will help make that first strong impression.

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Palos Verdes Market Data Report for 2017

RE/MAX Estate Properties Palos Verdes Market Report is out for the year 2017, and we will be discussing the results of the report within the next few days. The Market Data Report shows the number of single family residents properties that have sold and what the average price ranges are. Some of the information that we will be covering are the number of units sold, average square foot range, price range, average price comparisons (2016-2017) and average price per square foot.

The neighborhoods that we will be covering are: Lunada Bay/Margate, Monte Malaga, Malaga Cove, Valmonte, PV Drive North, Rolling Hills, PV Drive East, Mira Catalina, PV Drive South, West Palos Verdes, Country Club, La Cresta, Los Verdes, Crest, Peninsula Center, Silver Spur and Eastview/RPV.

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Marketing Report -remax - fourth quarter 2017

South Bay Real Estate November Sales Report

South Bay Real Estate November Sales Report
RE-MAX South Bay november

South Bay real estate sales for November showed great closing numbers for the many cities. In November, El Segundo showed 12 closed sales, Gardena showed 39, Hawthorne showed 27, Hermosa Beach showed 18, Lawndale showed 17, Lomita showed 9, Manhattan Beach showed 35, Redondo Beach showed 65 and Torrance showed 89 closed sales.

To read more about the comparisons between November 2016 to November 2017, or for the average price per foot, number of homes for sale in November, pending sales or days on market, go to the Market Intelligence Report listed below.

For more information on the RE/MAX South Bay Market Intelligence Report click here.

If you have any questions about the real estate market in this area, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

Palos Verdes Real Estate November Sales

Palos Verdes Real Estate November Sales

Re-max december chart

Palos Verdes Peninsula real estate sales for November showed a bit of slowing from the month before, but they have proven that the market is still showing a continuing high demand for Palos Verdes homes. During the month of November there were 39 closed transactions. The sold home prices for the month were from $980,000 for a 3 bedroom, 2 bath, 1,643 square foot home, to a 7 bedroom, 8 bath, 5,300 square foot single family home for $4,950,000. The average price of homes sold in November was $1,794,513.

Currently, there are 146 single family homes for sale in the 160-177 MLS areas, and 21 condo/townhomes for sale.

For more information on the Palos Verdes & Harbor Market Intelligence Report click here.