What is an ocean view worth for Palos Verdes homes?

Maybe you’re an owner of a panoramic ocean view home here in Palos Verdes or maybe you’re a buyer really wanting the beauty and peace of mind evoking feelings that a panoramic ocean view What is an ocean view worth for Palos Verdes homes?home provides.  The question then becomes, what is an ocean view worth for Palos Verdes homes?

Lots of real estate agents just take a stab at the answer without providing factual basis for answering that very important question.  I want to address this for you right now because I’m always listing Palos Verdes ocean view homes.  In fact as of this blog posts date, 4/14/2018, I will be listing one with a fabulous panoramic ocean view.  It will be coming on the market at the end of the month, with another coming near the beginning of June 2018.

So what I did here was to take the western, southern and south western part of the Palos Verdes Peninsula to pull the data.  What exact criteria did I use to answer the question…

What is an ocean view worth for Palos Verdes Homes?

  • Single Family Residences
  • Sale dates in the last 2 years
  • Home sizes under 3000 sqft
  • Homes built prior to 1978

Are you familiar with the economic law “diminishing rate of returns”.  This economic law is alive and well in the analysis of Palos Verdes home values.  There is a diminishing rate of return on $/sqft as sqft increases.  Why is this true?  Use the contact button on the bottom left of this page and ask me.  The answer to the what is an ocean view worth question then differs depending on the size of the home in question.  Interestingly enough, while the $/sqft differential is smaller for larger square footage homes when comparing panoramic ocean view home sales to non-view home sales, the calculated gross sale price difference is larger for the larger homes.  Take a look at this chart to learn the facts

What is an ocean view worth for Palos Verdes homes?

As you can see, Palos Verdes panoramic ocean view homes, all other factors being more or less equal, will sell for about $150,000 – $200,000 more than non-view homes.

What contributes to even larger premiums?  No phone lines obstructing the view is one factor that could push the premiums to $300,000 or more.  Another important factor is how the house sits on the lot relative to neighboring houses.  Let’s take the house I’m listing near the end of the month for example … in this case the subject property juts out a bit from the neighboring homes and as such the “enjoyment component” of the view is really high … the neighboring homes are behind your view perspective! This feature also boosts resale value.

 

What is an ocean view worth for Palos Verdes homes?

Check back to this article whenever you wish as the list of Palos Verdes ocean view homes (panoramic views only) will update live at each visit.

* Separate multiple values with comma.

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$1,495,000 - 3Br/3Ba -  for Sale in Rancho Palos Verdes
$1,495,000
MLS# PV18177889

4230 Dauntless Drive
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$2,495,000 - 4Br/5Ba -  for Sale in Rancho Palos Verdes
$2,495,000
MLS# RS18176473

30178 Cartier Drive
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$1,799,900 - 5Br/4Ba -  for Sale in Rancho Palos Verdes
$1,799,900
Open House
MLS# 18359556

4004 Dauntless Drive
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$2,099,000 - 4Br/5Ba -  for Sale in Rancho Palos Verdes
$2,099,000
MLS# PV18138958

28 Paseo De Castana
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$2,300,000 - 4Br/5Ba -  for Sale in Rancho Palos Verdes
$2,300,000
MLS# WS18134949

30181 Via Rivera
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$1,249,000 - 4Br/2Ba -  for Sale in Rancho Palos Verdes
$1,249,000
MLS# 18351230

14 Limetree Lane
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$2,189,000 - 4Br/5Ba -  for Sale in Rancho Palos Verdes
$2,189,000
MLS# PV18132161

6 Paseo De Castana
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$1,995,000 - 5Br/5Ba -  for Sale in Rancho Palos Verdes
$1,995,000
MLS# PV18131684

30130 Avenida Tranquila
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$1,699,800 - 4Br/4Ba -  for Sale in Rancho Palos Verdes
$1,699,800
MLS# SB18100809

59 Paseo De Castana
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$1,695,000 - 3Br/3Ba -  for Sale in Rancho Palos Verdes
$1,695,000
MLS# PV18099723

2737 Vista Mesa Drive
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence
$4,399,000 - 4Br/5Ba -  for Sale in Rancho Palos Verdes
$4,399,000
MLS# SB18006865

32008 Isthmus View Drive
Rancho Palos Verdes, CA 90275

Property Type: Single Family Residence