Rancho Palos Verdes real estate market trends of housing prices looks to be a hot one in the month of July. Homes are selling quicker as interest rates remain low. There are only 122 single family homes for sale in the city.
July 2016 Numbers for Rancho Palos Verdes Homes that Sold
Average selling price of all single family homes in Rancho Palos Verdes is $1,407,912.
Let’s break that down further.
- Two bedroom homes are selling for $740,752 which is down 21.0% over 2015
- Three bedroom homes are selling for $1,036,394 which is down 4.8% over 2015
- Four bedroom homes or more are selling for $1,607,344 which is up 10.1% over the previous year in July 2015
Your home’s value is determined based on square footage, condition and location. Key indicators of our listing inventory is the number of new listings that are coming on the market. In July, 414 single family homes came on the market which is up 11.60% from 2015.
Video of Rancho Palos Verdes Real Estate Market for July 2016
View more on https://youtu.be/5LFv0zubb1E
Pricing Rancho Palos Verdes Homes Right and They Will Sell
Rancho Palos Verdes homes are selling for 98.70% of the last listed price overall and 97% of the original listed price. The average price per square foot is $544. This number varies when it comes to square footages and number of bedrooms. I have noticed that at the higher square footage ranges that the price per square foot goes down.
That’s because Rancho Palos Verdes homes are evaluated by square footage range, condition and location by appraisers. Looking at computer models from popular online home magazines like Zillow, Trulia or Realtor.com for pricing is not what the real estate professionals use.
If you are thinking of selling your home in 2016, contact our Rancho Palos Verdes real estate team to understand the current market value and how much you will net from the sale.
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