Palos Verdes Luxury homes – what’s the market like and how does it compare against luxury homes across the country?
There was a really interesting article in the Wall Street Journal the other day about the luxury homes market (Thanks Renata for sharing it with me!) and I wondered how Palos Verdes Luxury homes compared.
The author of the artice stated “Luxury homes are selling faster than last year, according to data through July from listing website Realtor.com. And while bigger price tags typically mean more days on the market, homes listed for over $30 million spent less time idling than their (slightly) less expensive counterparts.”
Now we can’t lay any claim that any of the Palos Verdes Luxury homes are priced above $30,000,000; however let’s just say for the sake of argument, that we define Palos Verdes Luxury homes as homes over 5,000sqft. That’s a faulty measure as it leaves off some of the smaller homes on the bluff of Paseo del Mar for example; however, for the purposes of this little exercise, let’s use that definition.
In the last 12 months there were 42 homes “Palos Verdes Luxury Homes” sold with an average days on market of 176 days. For the 12 month period before that, there were 34 “Palos Verdes Luxury Homes” (using the definition above) that sold for an average days on market of 205 days. Interesting; that’s 14% fewer days on market!
The author further stated, “According to Realtor.com, the median age of listings ranged from 80 days for homes listed at less than $1 million, to 180 days for homes just under $30 million. Above $30 million, median time on market dropped to 139 days. That is partly due to the fact that some of these homes are marketed quietly before hitting the market, and partly because this segment is attracting a more engaged group of buyers, said Jonathan Smoke, Realtor.com’s chief economist. Across all price points, the national median age of listings is 82 days, down from 85 in July 2013.”
There’s another way of looking at the Palos Verdes Luxury Homes market. I subscribe (and you can benefit by accessing for free, I pay for the service for you) to Altos Research, an independent real estate research firm. They segment each market into quartiles.
So let’s look at what’s happening in the upper quartile of home prices for the 90274 zip code. But first here’s the chart from the Wall Street Journal article
If you would like to get other charts on median $/Sqft, the market action index, inventory levels and many other metrics, click the chart below to explore. I have access to Manhattan Beach, Hermosa Beach, Redondo Beach, South Torrance, the 3 cities and unincorporated area of Palos Verdes. Find out what’s happening in your area!
Palos Verdes Luxury Homes (upper 25% of the market)
For Palos Verdes homes, the 25% of homes sold in the last 6 months, were sold at over $1,810,000. If we were to use this as the definition of Palos Verdes Luxury homes, here’s the list AND this list is real time updated. Meaning, each time you visit this site, the list will be fresh.
Hacienda de la Paz is an awe-inspiring work of art and engineering. Positioned in L.A.'s preeminent equestrian community, the authentic Spanish estate is the only U.S. residence designed by world-renowned architect Rafael Manzano Martos. 17 years in the making, this private palace is perched 1100 ft. above L.A. at the crest of the Palos Verdes Peninsula in the 24 hr. guard-gated city of Rolling Hills; one of the safest and wealthiest cities in America. Breathtaking and unencumbered 180-degree panoramic vistas encompass the beaches, downtown and the San Gabriel Mountains. Amenities include a 10,000 sq. ft. hamam spa fit for a king, 15,000 sq. ft. neoclassical grand ballroom, 2 tennis courts; indoor hard court & outdoor clay court, 2 swimming pools; indoor & outdoor, access to 57 miles of equestrian & hiking trails, guesthouse, bocce court, gym, yoga room, wine cellar, catering facilities, geothermal heating & cooling system, elevators, 6 car garage and motor court. Approx. 8 acres.
King of the Hill. One of the largest estates ever offered in the heart of Malaga Cove in Palos Verdes Estates with panoramic views of the Queen's Necklace. A royal wrought iron entrance leads you down a long driveway with massive, historic wooden gates followed by a stone and wood bridge to an oversized circular carport replete with waterfalls and gorgeous landscaping. Family-owned for over 40 years, at the end of a cul-de-sac and on approximately 3.5 sweeping acres and 3 parcels of land next to parkland with striking ocean, city and golf course views. This stunning home has abundant character, quality, and detail including a sun-drenched pool overlooking the Pacific Ocean, citrus and flower gardens, and large grassy areas for reception and entertaining. A truly unparalleled and private compound.
A grand Italian Villa on a completely gated compound offers big views and total privacy. This lovely Tuscan estate boasts 10,100 square feet of living space and is situated on an approx. 50,325 SF lot. This is an unprecedented opportunity to step right into your dream Palos Verdes lifestyle. Perfectly suited for indoor/outdoor entertaining, this 6 bedroom, 8 bath home has incredible details, including intricately painted ceilings and a swimming pool inspired by the Bellagio Hotel in Las Vegas -- as well as views from Catalina all the way to Malibu and Beverly Hills. Amenities include multiple balconies, a wine cellar and state of the art home theater. Well-manicured grounds with serene fountains offer the best of outdoor living, including winding pathways, tennis court and koi pond. Experience life above sea level at 705 Via La Cuesta in Palos Verdes
Pre-construction Offering! Gorgeous French Mediterranean Gated Estate, located on prestigious Paseo La Cresta in Palos Verdes Estates, offers over 11,000 sq.ft., and has panoramic, Ocean, Catalina, & City Lights views from almost every room in the house. Grand Entrance yard with circular driveway. Grand foyer w/25’ high ceilings, double circular staircases & decorative glass atrium. Gourmet Kitchen w/top of the line appliances, large center island, & breakfast eating area. Large Family Room & Bar. Huge formal dining room(accommodates 16). Enormous Master Retreat includes sitting area, fireplace, dressing area & 2 expansive walk-in closets, & his/her Master Bath. Basement has a large family room w/fireplace, game area, bar, & large wine cellar. 2 Junior Suites, 2 additional Suites, Library/Office, Music Room, Gym, Maid’s Quarters, Elevator, 6 Car Garage, security alarm system w/surveillance cameras, natural stone & walnut floors throughout, & 10 fireplaces. Large rear yard perfect for entertaining w/lawn, swimming pool, spa, sports court, outdoor kitchen & bar, covered lounge cabana, firepit, & two fireplaces. Water fountains adorn the beautifully landscaped grounds. Another incredible property by Architect Luis de Moraes AIA, EnviroTechno Architecture.
This exquisite Malaga Cove Bluff-Top Estate Villa Sul Mar is perched high above the Pacific Ocean and offers an unbelievable ocean view. Inspired by a famous villa along the shores of Lake Como in Italy the property was designed by a highly noted local architect using only the top quality materials. The detail of the interior finish work is apparent the moment you enter the dramatic entry with massive ceilings. The stunning master suite comes complete with a sitting area and cozy fireplace, marble encased soaking tub and covered ocean view terrace. The gourmet kitchen has professional grade appliances, breakfast nook and huge center island. There is also a spacious circular wine room with tasting table and rustic Italian wall mural, great room with bar, large jacuzzi with fountain, massive 6 car show piece garage with additional covered parking and a three stop elevator. Home sits on over a half acre of lush land, lighted pathways, stone fountains and dual stone rotundas. Sitting high on the ocean bluffs of lower Malaga Cove, the magnificent view is from the beach cities to Malibu and beyond. Convenient location to ocean, hiking trails, Malaga Cove Plaza and Palos Verdes school system. This gated estate is a dream come true.
Extraordinary Mediterranean inspired estate on nearly an acre of land with no expense spared! The floor plan of this home provides you with the modern lifestyle and all of your entertaining needs. With 6 en-suites, plus a separate maid's quarters, gym, library, formal living and dining, family room that opens to the fabulous gourmet kitchen, movie theater, music room, billiards room, wine cellar, service/tech room-brain of the home (approx. 500 sq not included in sq footage), and multiple storage rooms throughout. The master retreat is everything you imagined with a spa like bathroom, and a separate room is used as a closet with floor-to-ceiling custom designed cabinets with glass doors. Additional amenities include a full sized elevator, 4 custom designed marble fireplaces, and a smart house with a sophisticated security system. There are over-sized French doors that open to multiple terraces, creating an easy indoor/outdoor feel enhanced by panoramic Catalina, Ocean, Malibu to Santa Monica Mountains views. Escape to the private resort-like backyard that will make you feel like your away on vacation and offers endless entertaining options from intimate gatherings to grand events ! Complete with a salt-water pool, fountains, spa, European statue, tennis/basketball court, and a built-in grill, all encompassed by a lush grassy yard. This property exudes elegance from top to bottom and is a timeless showpiece. Please see supplement for recent improvements.
Majestically situated atop of Palos Verdes Estates highest points, this extraordinary private gated estate overlooks a breathtaking panoramic ocean, city and Queen’s Necklace view. Built on approx 1.45 acres, this home is perfect for living & entertaining, encompassing 18,277 sq. ft. of luxurious living space. Drive through the gate and up the long driveway to the grand motor court with ample guest parking. Step inside and feel the open, spacious floor plan with the beautiful marble entry, high ceilings & abundance of natural light. This amazing home boasts 7 bedrooms, 11 baths, and has been beautifully updated with elegant oak wood floors, carpet, trim and greenery. Entertain your friends and guests with your private two lane bowling alley, or a night at the movies with the fully equipped home theater. French doors throughout open to multiple patios & balconies with beautiful sconce lighting, creating an easy indoor/outdoor lifestyle. Enjoy the newly redone regulation sized Tennis Court with viewing pavilion, large pool & spa, and beautiful new landscaping, complete with custom planters. Other grand features include a gym, office, maid’s quarters & laundry facility, dumbwaiter, sauna, 5-car garage. Welcome home. Available for lease as well.
Rare opportunity to build your own stunning Mediterranean Villa at the highest quality, located in one of the most sought after streets Paseo Del Mar in Palos Verdes Estates. Large flat lot has field size yard, grand entrance yard with circular driveway. This grand home is 7,800SF with 1,000SF covered patio space, steps away from the bluff, including dramatic soaring two-story foyer and double circular staircases. Expansive living, dining and great room, gracious gourmet kitchen, spectacular glass wall wine cellar, wet bar, elevator and screening room. Private master retreat with panoramic ocean view, private sitting area, fireplace, private balcony, huge his/hers closet & spa/bath. 4 additional bedrooms up all with ensuite bath, and 1st floor guest suite. Enjoy this private oasis complete with sparkling pool/spa, built-in barbecue, outdoor fire place and gated motor court.
Why do we love living here and being owners of Palos Verdes Homes? I've been a resident of Palos Verdes since 1968 attending 6th grade, graduating from Palos Verdes High School, graduating from UCLA and then coming back to Palos Verdes Estates to begin my real estate career in 1980. Talking with thousands of people and many hundreds of clients has confirmed for me what I've always known about owning any of the many fine Palos Verdes homes. We appreciate our strong school district ranked in the top 100 of all districts in these United States, we love our clean ocean breeze swept air, we love our approximate 70+ miles of hiking and equestrian trails, we love our quiet, peaceful, safe cities and bedroom communities and we love the strong sense of neighborhood that exist in the many varied neighborhoods here in Palos Verdes. From Palos Verdes ocean view homes in Palos Verdes Estates to the ranchos in Rolling Hills, there really is something for everyone. And, as "boring" as we might be, we have some great restaurants, and entertainment centers too. I can't wait to talk with you more about our many different communities. Meanwhile feel welcome to explore this website and if you own one of the many Palos Verdes homes and want an estimate of Palos Verdes home values, you will see a tab here to engage a few widgets to check and balance. Use the contact blue buttons to get a hold of me today