Market Update
Palos Verdes Peninsula
2019
year
end
Coming to the close of 2019…
Another very good year for California real estate, especially here in the South Bay. We
again saw high single digit appreciation for most areas on the Palos Verdes Peninsula. This
appreciating has occurred predominately in the first half of 2019, which was somewhat
expected. There are multiple reasons our market has continued to stay strong: extremely
low interest rates, low unemployment and a strong economy. Our inventory is low, there
are currently 154 Homes available for sale on the PV Peninsula. In the past, for example, we
have had as many as 400 active homes for sale in previous years.
2020 should be a very interesting year due to many factors which have recently occurred: the
ongoing China Tariff issues, California now is a rent-controlled state, the mortgage interest
deductions have been capped at $750,000 and our property tax deductions have been
capped at $10,000 and 2020 will be a presidential election year. The real estate market in
the last quarter of 2019 started to feel some effects from these recent changes. If you are
planning on buying or selling in 2020 please contact us for the current market conditions
and the value of your home.
Steve & Ceci Watts
Palos Verdes Peninsula
Single Family Home Statistics by city
YEAR HOMES LOWEST HIGHEST AVERAGE AVERAGE
2009 114 $791,000 $6,400,000 $1,776,167
109
2010 162 $755,000 $5,000,000 $1,680,823
103
2011 166 $606,200 $9,150,000 $1,626,511 95
2012 165 $765,000 $6,500,000 $1,755,991
104
2013 173 $815,000 $8,750,000 $1,818,083 76
2014 168 $865,000 $13,500,000 $2,145,397
73
2015 189 $799,000 $15,550,000 $2,237,141 69
2016 168 $900,000 $11,950,000 $2,223,416 78
2017 192 $1,070,000 $13,840,000 $2,244,282 54
2018 177 $1,126,853 $9,250,000 $2,221,581 50
2019 175 $1,045,960 $14,100,000 $2,271,420 60
SOLD SALE PRICE SALE PRICE SALE PRICE days on market
ESTATES
PALOS
VERDES
