Real Estate Blog

Real Estate Market Watch: Rancho Palos Verdes – February 2018

Another month down!

Feels like it was just January and now we’re in March!  Here are the sales numbers for Rancho Palos Verdes (RPV) for the month of February:

RPV experienced green arrows across ALL but one field for February.

Single Family Residences (SFR) increased by 4 units, up to 25, and volume sold jumped to $41,560,999 from $30,867,075 in January. Average price also increased significantly to $1,662,440. Days on market, which was 68 for the month of January, dropped to just 39 days.

Condos and Townhomes saw a sales increase of 2 units, up to 5 for February compared to just 3 in January. You’ll notice that average price took a big tumble, down to $720,600 for February compared to $931,333 in January. It is important to note that January had two million-dollar-plus condo/townhouses that sold and skewed the average. Same goes for the days on market, which dropped to 59 days from 82, since those units were on the market for 100+ days.

Overall, the market is beginning to rev up!