Most Expensive Palos Verdes Estates Homes

Most Expensive Palos Verdes Estates Homes

If we were to divide the Palos Verdes Estates homes market into price quartiles, what would the top 25% of the market look like?  What are the trends for prices, inventory, market strength and more?

In fact how do we quantify “market strength”.  The researchers at Altos (an independent real estate research firm to which I subscribe for access to their data – very expensive and I offer it at no cost to you as part of my customer service) have derived an index they call the “Market Action Index”*

These charts will update live every Monday morning approximately by 3am, so feel welcome to check in periodically to see how the market is doing.  Meanwhile, below the charts presented here, you will find the homes now for sale in this category (that have living area with one standard deviation of the mean living area size for the top quartile of Palos Verdes Estates homes)

Market Action Index From their website, Altos says:

We developed the MAI so you immediately know if it’s a Buyer’s or Seller’s market.
30+ indicates a Sellers market.

One of the unique market statistics provided in the Altos Market Reports our proprietary “Market Action Index” (MAI). Some of our subscribers ask about this stat and why we created it. In short, there are times in a market (both city and zip code level) that some of the key market stats that we use to analyze a market run counter to each other.

Perhaps median price is increasing at the same time that inventory levels are increasing while days-on-market is relatively flat. Using these three market stats individually makes it difficult to determine what is exactly is going on. We developed the MAI to roll together some of these key stats (and a few others) to generate a number, indexed to “30”, to determine if the local market is trending towards a “buyer’s market” or “seller’s market.”

From our reports:
“Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.”

“The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.”

Keep in mind that an MAI value close to “30” probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it’s likely to be either a buyer’s market or seller’s market based on the individual street or home area that a particular property is in.

We recommended using the Market Action Index with your clients to support your presentation about listing prices, offer prices, or other important client conversations where you might need some supporting data to back your argument.

Real Estate Market Chart by Altos Research www.altosresearch.com

Real Estate Market Chart by Altos Research www.altosresearch.com

Real Estate Market Chart by Altos Research www.altosresearch.com

Looking at the top quartile of Palos Verdes Estates homes sold in the last 6 months, the average living area size was 5,640 square feet.  So what’s the “typical” most expensive Palos Verdes Estates homes look like?  Let’s take a peek at the homes that are one standard deviation around the mean 5,640sqft ranked from the most expensive to the least:

Most Expensive Palos Verdes Estates Homes

* Separate multiple values with comma.

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$9,875,000 - 5Br/6Ba -  for Sale in Palos Verdes Estates
$9,875,000
MLS# PV17034020

609 Paseo Del Mar
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$9,500,000 - 6Br/9Ba -  for Sale in Palos Verdes Estates
$9,500,000
MLS# SB17153566

1816 Paseo Del Mar
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$7,600,000 - 5Br/6Ba -  for Sale in Palos Verdes Estates
$7,600,000
MLS# SB17156518

856 Rincon Lane
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$7,200,000 - 5Br/7Ba -  for Sale in Palos Verdes Estates
$7,200,000
MLS# SB17144511

2508 Novato Place
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$6,950,000 - 6Br/7Ba -  for Sale in Palos Verdes Estates
$6,950,000
MLS# PV17075482

1544 Via Zurita
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$6,299,000 - 6Br/6Ba -  for Sale in Palos Verdes Estates
$6,299,000
MLS# SB17030564

701 Via La Cuesta
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$5,900,000 - 5Br/5Ba -  for Sale in Palos Verdes Estates
$5,900,000
New
MLS# PV17163530

2801 Via Segovia
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$5,599,000 - 4Br/5Ba -  for Sale in Palos Verdes Estates
$5,599,000
MLS# SB17021873

273 Rocky Point Road Road
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$4,899,000 - 5Br/6Ba -  for Sale in Palos Verdes Estates
$4,899,000
MLS# PV17035124

2008 Via Visalia
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$4,500,000 - 4Br/6Ba -  for Sale in Palos Verdes Estates
$4,500,000
MLS# PV16768745

3013 Via Victoria
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,890,000 - 5Br/5Ba -  for Sale in Palos Verdes Estates
$3,890,000
MLS# WS17089676

412 Via Almar
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,699,000 - 4Br/4Ba -  for Sale in Palos Verdes Estates
$3,699,000
MLS# PV17128624

932 Via Del Monte
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,600,000 - 6Br/7Ba -  for Sale in Rancho Palos Verdes
$3,600,000
MLS# CV16107532

6 Yellow Brick Road
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$3,488,000 - 5Br/6Ba -  for Sale in Palos Verdes Estates
$3,488,000
MLS# PV17080269

1217 Granvia Altamira
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,279,000 - 5Br/7Ba -  for Sale in Palos Verdes Estates
$3,279,000
MLS# 17219272

1409 Via Castilla
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,199,000 - 4Br/4Ba -  for Sale in Palos Verdes Estates
$3,199,000
MLS# SB17035282

848 Via Somonte
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,180,000 - 5Br/5Ba -  for Sale in Palos Verdes Estates
$3,180,000
MLS# SB16725272

1500 Via Asturias
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$3,090,000 - 5Br/3Ba -  for Sale in Palos Verdes Estates
$3,090,000
Open House
MLS# PV17118847

1312 Via Zumaya
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$2,995,000 - 4Br/4Ba -  for Sale in Palos Verdes Estates
$2,995,000
MLS# SB17093789

2405 Via Sonoma
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence
$2,990,000 - 6Br/7Ba -  for Sale in Palos Verdes Estates
$2,990,000
MLS# SB16156457

1548 Via Martinez
Palos Verdes Estates, CA 90274

Property Type: Single Family Residence

What’s My Home Worth?

Use this highly interactive tool to estimate what a buyer in today’s market might pay for your home (control which competitive sales are used, direct the program as to the condition and view quality of your home, and pick how strong the market is around your home, all using an easy sliding scale)  If you don’t have a private access key code for your specific home, send me an email and I will generate one for you.

 

 

 

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