Rolling Hills - $3M Home Sales for 2009 Year to Date - Palos Verdes CA

A remodeled home in Rolling Hills hit the market a few days ago and the list price is under $1.3M. I saw the property when it was listed at a higher price. It's not perfect, but hey, it is Rolling Hills, the gated city at the top of the Palos Verdes Peninsula. Buyers, that is a deal based on location alone! The median price of homes in Rolling Hills is over $2M.

Here's a peek at home sales over $3M in Rolling Hills for the past few years:

2009: 3

2008: 3

2007: 10

2006: 8

2005: 7

(numbers based on MLS--deemed correct but not guaranteed)

No doubt about it, sales are down and so are prices in Rolling Hills. If you're thinking of making a move to behind the gates of Rolling Hills, now is an excellent time to see if your dream home is available at a surprisingly attractive price.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

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Palos Verdes Estates - $3M+ Luxury Home Sales Report 2009 YTD

The over $3,000,000 home sales have endured a sluggish couple of years on the Palos Verdes Peninsula. Chalk it up to the near extinction of jumbo loans and the economic decline. I noticed during the usually quiet dog days of summer a high end sale or two started appearing on the MLS hotsheet.

Digging a little deeper, and closing a high-end home in Palos Verdes Estates myself, encouraged me to delve a little deeper to determine whether my sale was a fluke, a stroke of good luck or a turning point in the local housing market. Here's what I found:

10 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2009. 4 Homes in the price range are currently in escrow.

9 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2008.

18 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2007.

13 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2006.

17 Palos Verdes Estates homes $3,000,000 and up closed escrow in 2005.

It appears the high-end home market in Palos Verdes Estates hit bottom in 2008, and the number of sales in 2009 will be back in the double digit zone.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

90275 Homes for Sale - Rancho Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes - Palos Verdes Estates Homes

Portuguese Bend - Coastal Homes off of Palos Verdes Drive South

Yes, you can have an ocean view and horses in Palos Verdes. You can also live in a gated community surrounded by stunning natural beauty and enjoy one of the best climates on the Palos Verdes Peninsula. Located just off Palos Verdes Dr. South, the Portuguese Bend Club equestrian neighborhood is smaller than the gated city of Rolling Hills (and less expensive) but it, too, is graced with abundant open spaces, horse and hiking trails and spectacular views of the Pacific Ocean.

I am watching the neighborhood for a client who has kids and horses. We're hoping a four bedroom with stables and a view will come on the market in the next few months. Portuguese Bend home prices range from just under $1,000,000 to multi-million dollar equestrian compounds.

The Portuguese Bend Club has a neighborhood stable for boarding horses, riding rings and exercise areas plus miles of riding trails. The Portuguese Bend Club Horse Show is an annual event in the neighborhood.

Located on Palos Verdes Drive South between Donald Trump's golf course and Terranea Resort the Portuguese Bend neighborhood is a few minutes from recreational and fine dining options. Upon entering the gates you will find it hard to believe you are in Los Angeles County.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

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Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
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Palos Verdes Ocean Front Homes - Pricing

If you too are wondering what's happening with coastal mega mansions during this prolonged recession, and are considering selling or buying a high-end property, here's the scoop on the luxury market on the Palos Verdes Peninsula:

42 luxury homes are for sale in Palos Verdes in the $3,000,000 and up price range.

24 of those homes are priced from $3,000,000 to $5,000,000.

18 fall into the ultra high-end of $5,000,000 and up.

Let's examine the same price range and look at sales since 2007:

61 Single Family Homes priced from $3,000,000 to $5,000,000 sold since January 1, 2007 to present.

23 of of those sales were for $5,000,000 and up.

We don't have the celebrities and movie stars of Beverly Hills and Bel Air, and our ocean front home prices are cheap compared to Malibu. This is a peninsula and we are graced with gorgeous coastline on three sides. We are also located on a hill so many more homes enjoy spectacular views from their strategic perches high above the Pacific Ocean. As a matter of fact, many people have never heard of Palos Verdes and the paradise this peninsula offers. That's the one of the things I like best. It's serene and peaceful here.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Homes for Sale - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Realtor Blog
Palm Desert Area Lots for Sale - Homes with Views in Palos Verdes
Palos Verdes Coastal Homes