RPV Market Snapshot: Rising Prices, Longer Waits – But Buyers Are Still Showing Up

The Rancho Palos Verdes real estate market stayed competitive this March, despite a notable dip in average list prices and a longer timeline to get homes sold. Let’s dive into the trends that matter if you’re thinking of buying or selling in RPV.

---

🔑 Key Stats at a Glance

• Avg. Sales Price: $1,654,012 — up 17.79% YoY
• Avg. List Price: $1,661,187 — down 18.44% YoY
• Price per SqFt: $726.60
• SP/LP Ratio: 100.5% (homes are still selling near asking)
• Avg. Days on Market: 52 — up 44.44% from last year
• Total Sales: 32 — down 18.52% YoY​

---

📍 Neighborhood Highlights

Some of the fastest-moving areas this month included:

• Mira Catalina and PV Dr. South, with homes selling in just 11 days.
• Monte Malaga also saw a strong showing with a $2.375M median price and only 13 days on market.
• The highest sale? A $2.825M home in PV Drive East​.

---

🏡 Rental Trends

The rental market tells a story of high demand at the upper end:

• 4+ bedroom homes reached a median rent of $14,022, up over $3,500 from last year.
• Meanwhile, 1-bed units saw median rent drop to $1,500, but lingered with an average of 168 days on market​.

---

💡 What It Means for You

Buyers: You may have more time to make decisions—but expect to pay close to asking, especially for move-in-ready homes in popular areas.

Sellers: Despite longer market times, strong sale prices and low inventory are keeping RPV competitive. Well-prepped homes in desirable pockets are still flying off the shelf.

📩 Want a neighborhood-specific breakdown or help getting your home ready to list? Reach out to Prestige Team Homes—we’re always happy to share insights or run custom comps.