Palos Verdes Real Estate Explained – Community and Home Info

By Keith Kyle

Real estate on the Palos Verdes peninsula isn’t always easy to figure out. When people say Palos Verdes, or PV, it’s not always clear just what they’re talking about. With 4 different cities (really 5 if you include the unincorporated area that is actually called Palos Verdes Peninsula), multiple real estate areas often including more than one city, the entire area serviced by the Palos Verdes Unified School District, various zoning issues including equestrian areas and vastly different areas and neighborhoods (not to mention distinct climates)….how is one able to get a handle on the area?

The map below should help as it’s broken down into both cities and real estate “areas”.

The pink sections show Palos Verdes Estates and the corresponding real estate numbers used by realtors to break the areas down into similar real estate neighborhoods.  The orange areas show Rancho Palos Verdes which had an abundance of very distinct areas and neighborhoods.  The purple shows Rolling Hills Estates, green represents Rolling Hills (gated community with very large lots) and the yellow is the small pocket of Palos Verdes Peninsula.

Palos Verdes real estate map

July 2014 Median Home Prices for Redondo and the South Bay

By Keith Kyle

July 2014 saw some big numbers in terms of both number of homes sold as well as median prices.  Redondo Beach had 97 sold homes at a median price of just under $1,000,000 which is a pretty significant number for this coastal community.  Most other South Bay cities also saw some significant year over year increases in prices with the exceptions being Torrance, Marina Del Rey and Playa Del Rey.  To see the actual homes sales in each city visit our recent home sales price and information site.

City Homes Sold July 2014 Median July 2013 Median Year over Year % Change
Carson 48 $382,500 $350,000 9.29%
El Segundo 15 $872,000 $797,000 9.41%
Gardena 50 $385,000 $332,500 15.79%
HarborCity 13 $480,000 $465,000 3.23%
Hawthorne 51 $505,000 $400,000 26.25%
Hermosa Beach 26 $1,230,000 $1,097,500 12.07%
Lawndale 8 $412,000 $331,250 24.38%
Lomita 13 $555,000 $452,000 22.79%
Long Beach 330 $400,000 $365,000 9.59%
Manhattan Beach 43 $1,795,000 $1,521,250 18.00%
Marina Del Rey 33 $757,500 $862,500 -12.17%
Palos Verdes Estates 51 $1,600,000 $1,291,000 23.93%
Playa Del Rey 23 $507,000 $512,000 -0.98%
RanchoPalos Verdes 54 $1,069,000 $1,100,000 -2.82%
Redondo Beach 97 $865,000 $758,000 14.12%
San Pedro 49 $440,000 $420,500 4.64%
Torrance 142 $540,000 $576,250 -6.29%
Westchester 48 $777,500 $715,000 8.74%

February 2014 Home Sales in Redondo Beach and the South Bay

By Keith Kyle

With inventory remaining low throughout most of the South Bay, the volume of sales continued to be lower than normal, but certainly not due to a lack of demand. Prices continued to rise with multiple offers on many appropriately priced homes and days on market remaining very low. Click on any city below to see the homes sales and prices for February 2014

February 2014 Home Sales

August Home Sales Show Big Numbers in the South Bay

The South Bay saw big numbers in August 2013 with impressive increases in both median home price and the number of sales in many of the local communities.   Hermosa Beach posted some of the most impressive numbers with 30 closed sales in this small beach community and a median home price of over $1.2M.    “This is a big number but it’s especially impressive as it’s a 40% increase over median home prices in Hermosa Beach in August of 2012″ according to Hermosa Beach realtor Keith Kyle.  Other cities enjoyed significant gains as well. Click on any link below to view the homes sold and home sales prices for August.

Gardena
Hawthorne
Hermosa Beach
Hollyglen
Hollywood Riviera
Lawndale
Manhattan Beach
Palos Verdes Estates
Rancho Palos Verdes
North Redondo Beach
South Redondo Beach
San Pedro
Southwood, West & South Torrance

July 2013 Home Sales in The South Bay – By the Numbers

July was a record month in many South Bay cities as we saw a multi year high number of new listings, pending homes sales and closed home sales.  This may be the increase in home inventory that eventually balances the market as opposed to the drastic seller’s market at the moment.

El Segundo  –                      Active Homes for Sale 18   –   Pending Home Sales 14   –   Closed home sales 16

Hermosa Beach   –             Active Homes for Sale 31    –   Pending Home Sales 25    –   Closed home sales 29

Manhattan Beach  –          Active Homes for Sale 68    –   Pending Home Sales 37    –   Closed home sales 45

Palos Verdes Estates  –     Active Homes for Sale 42    –   Pending Home Sales 18    –   Closed home sales 27

Rancho Palos Verdes  –    Active Homes for Sale 101   –   Pending Home Sales 56    –   Closed home sales 44

Redondo Beach  –             Active Homes for Sale 102   –   Pending Home Sales 104   –   Closed home sales 110

Torrance  –                         Active Homes for Sale 159   –   Pending Home Sales 129   –   Closed home sales 158

Inventory On The Rise In the Beach Cities and South Bay!

It’s taken a while but inventory is finally steadily increasing with 4 straight months of rising number of homes for sale.  July saw the number active homes on the MLS at 583 which is the highest since September of 2012 which was a vastly different market.  The chart below shows the past 2 years of active listings (light green column) pending home sales (red line) and sold homes (teal column).  According to Manhattan Beach real estate agent Keith Kyle, “the rising number of homes for sale should be good news for buyers but there is still incredible demand which will continue to translate into higher home prices”.  The cities included in the chart below are Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, El Segundo and the communities of Palos Verdes

The number of pending home sales in July 2013 was the highest since March of 2012 with 400 pending sales, and the number of sold homes in July was 411, which was the highest month in over 5 years.  To view the home sales in the individual cities in the South Bay click here.

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Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

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