City of Rolling Hills Estates 1st Quarter 2012 Real Estate Market Report

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Real Estate Agent with Remax Estate Properties - BRE #01368971 DRE #01368971

The following is the 1st quarter 2012 Real Estate Market Report for the City of Rolling Hills Estates, including the unincorprated area known as Palos Verdes Peninsula adjacent to the City.

The number of homes for sale had decreased substantially the last several months  but picke up again in March, with 25 homes listed for sale, very close to the 28 listed for sale a year ago. Sales increased substantially in March to 12 homes sold, with another 10 homes in escrow at the end of the quarter. Based on the average monthly sales for the last 3 months of 6 homes sold, there is currently a 4 month inventory of unsold homes.

 

 
 
 
 
 
       
  Mar. 12 Feb. 12 Curnt vs. Prev Month % Change Mar. 12 Mar. 11 Curnt vs. Same Month 1 Yr Ago % Change Jan. 12 to Mar. 12 Jan. 11 to Mar. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 25 18 38.9% 25 29 -13.8% 23 27 -14.8%
Sold 12 4 200% 12 2 500% 6 2 200%
Pended 10 14 -28.6% 10 6 66.7% 10 4 150%
 
 
 
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The most recent quarterly average price per sq. ft. of properties sold of $386 per s.f.  showed a 7% decline in price per sq. ft. for properties sold compared to the comparable quarter a year ago.  Average sales price per sq. ft. did improve during March.   Because of the relatively small number of monthly sales, the average monthly price per sq. ft. for this city is highly dependent on the type of homes sold during the month.

 
 
 
 
 
 
 
 
 
 
 
 
 
       
  Mar. 12 Feb. 12 Curnt vs. Prev Month % Change Mar. 12 Mar. 11 Curnt vs. Same Month 1 Yr Ago % Change Jan. 12 to Mar. 12 Jan. 11 to Mar. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 412 363 13.4% 412 445 -7.6% 396 425 -6.9%
 
 
 
 
As noted below, the average time to sell a home in Rolling Hills Estates has averaged from 1 to 2 months for the last 4 months of 2011, but increased substantially during the 1st quarter. . The average percentage of sales price to original list price has also averaged about 90%.
 
 
 
 
 
 
 
 
       
  Mar. 12 Feb. 12 Curnt vs. Prev Month % Change Mar. 12 Mar. 11 Curnt vs. Same Month 1 Yr Ago % Change Jan. 12 to Mar. 12 Jan. 11 to Mar. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Days on Market 73 230 -68.3% 73 116 -37.1% 114 129 -11.6%
Sold/Orig LP Diff. % 92 83 10.8% 92 93 -1.1% 90 89 1.1%
 
 
 
 
 

With continuing low interest rates and sellers in a negotiating mood, now is an excellent time to purchase a home.

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California Los Angeles County Rolling Hills Estates Palos Verdes Drive North
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