The most prominent feature of the Country Club area within Rancho Palos Verdes is, of course, the Los Verdes golf course. Hawthorne Boulevard. it serves as the eastern and southern border here. The West Rim is essentially the westernmost part of the golf course. The northern border begins just south of Fred Hesse Jr. Park. Homes here typically have around 3,500 square feet of living space. Lots can range from an average of 13,000 square feet to 18,000 or more square feet. The peak year for home sales was 2002, and the highest median sales price occurred later in 2006.
The median home sale price in 2001 was $945K. The values of homes that have sold have increased every year since through 2006, the year it peaked at $1.9M on average. In 2007, the median sale price was $1.7 million and decreased slightly to just over $1.6 million in 2008. So far this year, the median sale price has been $1.3 million. There were 37 single-family home sales in 2001 and 49 in 2002. It dropped to 39 homes in 2003 and then leveled off at 34 homes for a couple of years. In 2006, 22 homes were sold, but in 2007 there was a jump to 31 home sales. Last year a total of 18 single-family homes were sold and so far this year there have been 18 with two pending.
In 2001, the average number of days on the market before a home was sold was 42 days. This dropped to 25 days in 2002 and then again to 15 in 2003. In 2004, most houses were on the market for only a week before selling. The number of days a house has had to sit idle before being sold has been on the rise ever since. In 2005 it was 27 days, last year it was 56 days, and this year to date it has taken an average of 76 days before a home is sold.
The current inventory of unsold homes is a few months old with five on the market. The average list price of these five homes is $1.7 million and they have been on the market for an average of 113 days.
