About Palos Verdes Estates' Lunada Bay

Lunada Bay neighborhood real estate and home sales report for Palos Verdes Estates, CA in January 2010.

Active listings: 27 Homes are currently for sale in Lunada Bay priced from $1,080,000 to $3,995,000.

Pending sales: 6 Homes are in escrow priced from $999,999 to $2,299,900.

January sales: 5 Houses sold in Lunada Bay during January 2010:

• Via Carrillo $1,160,000
• Via Pacheco $1,300,000
  
• Via Borica $1,425,000
  
• Rivera Pl. $1,530,000
  
• Via Zumaya $2,995,000
  

All Lunada Bay, Palos Verdes Estates real estate and home sales reports.

Previous Palos Verdes and San Pedro Market Reports

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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Lunada Bay Home Sales in 2009

The Lunada Bay area of Palos Verdes Estates had a strong increase in the number of home sales in 2009 over 2008. This is a good sign here as the number of sales had been dropping at a surprising rate. Total single family home sales in 2008 were only one third of what they were for most of 2000 through 2004. This increase in the number of sales came at a bit of a price though. The median sales price for a home here last year was just under $1,400,000. In 2007, the median price had passed the $1,700,000 for the first time, making it the peak year for sales in Lunada Bay. The fact that the number of homes sold has dropped so much no doubt statistically impacts the median price data. Nonetheless, the Lunada Bay homes are currently selling at 2004 prices, something we are seeing happen in several areas of the South Bay.

Back in 2000, there were 111 single family homes sold at a median price of $859,000. So in spite of the recent drop off, this area has enjoyed a healthy return on an investment in a home here and is consistent with the majority of sub-areas in Palos Verdes. In general, the returns in the beach cities were higher. This may, in part, be attributed to the fact that there are many more newly built homes sold in a city like Manhattan Beach, for example. There were no newly built home sales in Lunada Bay in 2009. There were also no new homes sold here in 2008, but in 2007 there were three sales of newly built homes. Last year in the tree section of Manhattan Beach alone, there were 13 sales of new homes and this was down by half from 2008.

There is encouraging news in recent sales given that there have been five closings in the month of January and another five homes going into escrow. The average sales price of the closed deals was about $1,700,000 and for the new sales is about $1,600,000. Sales of single family homes in Lunada Bay are off to a very strong start. It will be interesting to see what happens as we move forward, especially given the eight or so months of inventory for homes currently on the market.

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The Lunada Bay area of Palos Verdes Estates ( area 160 in map below )had the following real estate market activity for single family residences during the 4th Quarter of 2009:

Properties Sold: 10

Address Sales Price BR BA S q.ft. $/Sq.ft Yr.Blt. MLS# Sold Date Days on Mkt.

2337 Via Rivera $875,000 4 3.00 1,614 $542 1955 S592565 11/25/09 49

2224 Via Anacapa $1,005,000 3 2.00 2,087 $482 1958 V09050039 10/09/09 149

1209 Via Coronel $1,040,000 3 3.00 1,859 $559 1939 V09004022 12/01/09 291

2516 Chelsea RD $1,100,000 3 3.00 2,278 $483 1955 V09089078 12/02/09 81

2220 Chelsea RD $1,150,000 3 2.00 1,922 $598 1951 V09064932 10/09/09 87

2365 Via Anacapa $1,150,000 4 3.00 2,491 $462 1950 V09057343 11/06/09 110

1113 Via Zumaya $1,200,000 3 3.00 2,566 $468 1976 V09016560 11/10/09 183

1533 Addison Rd $1,275,000 3 3.00 2,265 $563 1948 V09099233 11/19/09 18

2412 Via Carrillo $1,400,000 5 3.00 2,621 $534 1965 S09092024 12/11/09 92

1904 Via Estudillo $1,565,000 5 3.00 3,062 $511 1973 V09104289 12/04/09 67

Properties for Sale as of 12/31/09: 25

Average List Price at 12/31/09: $2.1 million

Average Sales Price of homes sold during 4th quarter: $1.2 million

Average Price per Sq. Ft. for Properties Sold during 4th Qtr: $ 520 per sq. ft.

Properties sold at an average of 96% of List Price

The Palos Verdes neighborhood of Lunada Bay is located on the west side of Palos Verdes Estates. Lunada Bay is .7 square miles and has approximately 2,800 residents. This area is also home to 3 schools - Lunada Bay Elementary, Palos Verdes Intermediate, and Palos Verdes High School. You can see why this is a favorite area for families as their children will probably be able to walk to at least one of those schools during their school career. My favorite things about Lunada Bay are the ocean views and the coastline bluff trails for walking.

Lunada Bay in Palos Verdes has its own shopping area (Palos Verdes Drive West and Yarmouth) with a market, restaurants, gas station, banks and other shops. Lunada Bay also has its landmark fountain (photo above). Some Lower Lunada Bay homes (on the ocean side of Palos Drive West) have ocean views; this area is fairly flat which is perfect for biking and walking. Upper Lunada Bay homes are located higher on the hill and many have panoramic ocean views.

Most of Lunada Bay is single family homes (87%) but there are also apartments and townhomes. Currently, there are 27 single family homes for sale in Lunada Bay Palos Verdes ranging in price from $1,080,000 (3 br, 2 ba, 1943 sq ft) to $4,495,000 (5 br, 5 ba, 5490 sq ft). There are 8 homes in escrow. 41 homes have sold in Lunada Bay since the first of the year ranging in price from $875,000 (4 br, 3 ba, 1614 sq ft) to $5,000,000 for a stunning bluff home (4 br, 4 ba, 3568 sq ft). Currently, there are 2 condos for sale in Lunada Bay - one for $399,900 (1 br, 1 ba, 671 sq ft) and one for $725,000 (3 br, 2 ba, 1609 sq ft).

Lunada Bay neighborhood real estate and home sales report for Palos Verdes Estates, CA in December 2009.

Active listings: 24 Homes are currently for sale in Lunada Bay priced from $1,080,000 to $3,495,000.

Pending sales: 8 Properties are currently in escrow priced from $1,160,000 to $2,995,000.

December sales: 4 Homes sold in December 2009:

• Via Coronel $1,040,000
• Chelsea Rd $1,100,000
• Via Carrillo $1,400,000
• Via Estudillo $1,565,000
  

All Lunada Bay, Palos Verdes Estates real estate and home sales reports.

Previous Palos Verdes and San Pedro Market Reports

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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