Real Estate Market Watch: Rancho Palos Verdes – August 2017

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Here are the RPV numbers for the month of August:
RPV as a whole experienced a significant drop in volume sold for both Singe Family Residences (SFR) and Condos/Townhouses. SFR saw a pull back in average sale price in August, down from $1,708,935. Units sold also dropped from 52 units in July to just 34 in August.
Townhomes and Condos, on the other hand, had a much better month. Units sold jumped to 17 for August, up from 11 in July. Average price also continues to steadily increase, up from $811,995 in July.
In Eastview, number of total units increased from 6 in July to 14 in August! This month we saw strong sales in both homes and condos. However, both saw a drop in average sale price, more notably in condos (down $37k). Number of days on market for SFR Increased slightly to just 16 days compared to 4 days for the month of July. Condos averaged 11 days on the market in August, down from 14 in July.
Eastview is the most affordable neighborhood in Rancho Palos Verdes, which makes it very desirable for anyone looking to move into town.
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