A look at home sales trends in Los Verdes

Los Verdes is the inner section of the Rancho Palos Verdes. North Frontier Monero Dr. Hawthorne Blvd is. serves on the eastern border. The western edge is at Golden Meadow Dr. The southern border is partly owned by Fred Hesse Jr. It is the southern end of the park. Most of the houses here have an area of ​​2,000 square meters. The average lot size of homes for sale is 9,000 sq ft. The peak year of home sales was in 2002. The peak of the average selling price lasted from 2005 to 2007.

Homes had average sales prices of more than $ 600,000 in 2001. It rose every year until 2005, when the average home sales price was $ 1.1 million. It was close to that level for a couple of more years, and fell by a few million dollars in 2008. The average year-on-year sales price is less than $ 1M even though the sales volume is low.

In 2002, 76 single-family homes were sold here, up from 54 last year. In 2003, 56 homes were sold and it went down in the next two years, reaching 36 homes in 2005. It rose slightly in 44 homes in 2006, but sales have fallen since then. In 2008, 25 homes were sold and 24 this year. Four more homes are waiting to be sold.

In 2001, homes stayed on the market for an average of 26 days before being sold on the market. From 2002 to 2005, homes were on the market for a couple of weeks on average. Homes remained on the market for an average of a month in 2006, but fell in a few weeks in 2007. The average rose to three months last year and has averaged more than two months this year.

The current inventory of unsold homes is about five months old. These homes are priced at an average of $ 1.1 million and have been on the market for a couple of months.