There’s a reason location plays such an important role in real estate–it leads the way in determining property value, quality of life, weather conditions, local school performance, cultural and recreational options, as well as a long list of other lifestyle opportunities. When “coastal” becomes part of the location equation, the price tag heads heavenward. Toss in some spectacular hills, canyons, and cliffs and the luxury factor cannot help but come into play.
The Palos Verdes Peninsula is fortunate to offer a coastal location with a wide variety of top educational opportunities and an expansive array of housing options. There are award-winning public and private schools. There are coastal condos prices far below $1,000,000. However, when it comes to single-family residences it is a challenge to find homes priced under $1,000,000.
The median value of single-family homes located in the 90274 Zip Code is $1,729,900. This Zip Code includes Palos Verdes Estates, Rolling Hills, and Rolling Hills Estates. Rancho Palos Verdes’ Zip Code is 90275 and has a median value of $1,216,900. The lower median value for single-family residences is due primarily to the Eastview neighborhood annexed from San Pedro many years ago. It remains one of the most affordable neighborhoods and is located in the foothills of the Palos Verdes Peninsula.
There are currently 239 single-family houses for sale on the entire Palos Verdes Peninsula. Nearly half (103) of those properties for sale are priced over $2,000,000. 57 of the residences for sale are priced above $3,000,000. There are currently six Palos Verdes properties priced above $10,000,000. The most expensive is a Rolling Hills compound with a price tag of $48,000,000.
For more information about your Palos Verdes neighborhood real estate activity and the value of your property contact Norma Toering at 310.493.8333 or Norma@CharlmagneProperties.com