Home values in Rancho Palos Verdes bridge a wide price range. Single-family homes in this coastal community currently range from a low of just under $500,000 for a three-bedroom bungalow in need of work to a 7,000 square foot, ocean-view home located in The Estates at Trump National Golf Course listed for $10,000,000.
What determines the value of your Rancho Palos Verdes home? Condition counts, and size does matter, but when it comes to the Palos Verdes lifestyle on this peninsula that majestically juts out into the Pacific Ocean along one of the most spectacular stretches of Southern California’s coastline, it is all about the views. Fortunately, The Hill, as Palos Verdes is referred to by the locals, is blessed with a plethora of views. Ocean views are plentiful since it is a peninsula. The hilly topography offers stunning city light views of the Los Angeles Basin, and the bustling Los Angeles Port provides views of cruise ships, the lights of Long Beach and beyond. Catalina Island is visible from many Rancho Palos Verdes homes. There is no question that the view, or lack thereof, from your Rancho Palos Verdes home plays an important role in determining its value.
Rancho Palos Verdes is the largest of four cities on the Palos Verdes Peninsula. It covers 13.5 miles with a population of 41,643, according to the 2010 census, and its history dates back to the Spanish explorers. The area’s expansive views have a magnetic attraction, but the pull of the outstanding public school system also contributes to the value of local real estate. The Palos Verdes Unified School District serves all four cities, and Palos Verdes Peninsula High School has a 9 out of 10 rating on greatschools.org. Many families move to the area specifically to enjoy the benefit of enrolling their children in the public school system.
There are several distinct neighborhoods in Rancho Palos Verdes with a great variety in price, view and location. Homes styles vary from beach cottages to magnificent oceanfront estates. Highlights of each area are:
Palos Verdes Drive East: Located on the east side of the Palos Verdes Peninsula, this neighborhood is known for its large lots and lower density than many neighborhoods on The Hill. Although there are communities with a subdivision feel, the area is known for its country atmosphere. It also has one of the best locations for easy freeway access. A wide variety of styles and prices are available. Current price range is $780,000 to $4,000,000.
Mira Catalina: This neighborhood is home to Marymount College and spectacular views of Catalina Island. Current price range is $879,000 to over $4,000,000.
Palos Verdes Drive South: The south side of the Rancho Palos Verdes is fast becoming the resort side of the peninsula. The neighborhood is graced with some of the most breathtaking views on the entire Palos Verdes Peninsula. The location is home to Terranea Resort and Trump National Golf Course. The most expensive Rancho Palos Verdes home sold in 2011 is a home located in The Estates at Trump National Golf Course. The property sold for over $7,000,000. Current price range is $825,000 to $10,000,000.
Palos Verdes Drive West: Thanks to Oceanfront Estates, an ocean-view community with large homes hugging the coastline, this area has the highest concentration of multimillion-dollar homes in Rancho Palos Verdes. The hills on the other side of Palos Verdes Drive West are also laced with some lovely view homes that are not quite as pricey. Current price range for the neighborhood is $999,000 to $5,295,000.
Country Club: Many of the homes in Country Club have a view of Los Verdes Country Club, but since the neighborhood is near the top of the Palos Verdes Peninsula, there are also ocean and city views. Homes prices range from $1,100,000 to $2,749,000.
La Cresta: Located at the top of The Hill and near the center of the Palos Verdes Peninsula, La Cresta enjoys fabulous views and is conveniently located near the shopping, dining and entertainment district of Palos Verdes. Home prices range from $1,300,000 to $2,800,000.
Crest: It is difficult to find a community in Rancho Palos Verdes that does not showcase amazing views, and the Crest neighborhood is no exception. Centrally located for easy access in and out of the area, the neighborhood has huge ocean-view homes, subdivisions, gated townhouse communities and condos offering a wide variety of housing options for residents. Current prices for single-family homes range from $1,066,000 to $1,380,000.
Los Verdes: The Los Verdes neighborhood is one of the more affordable areas of Rancho Palos Verdes with current home prices ranging from a low of $875,000 to $1,100,000.
Peninsula Center: Most of the homes in Peninsula Center were built at approximately the same time so the area appears more uniform in style, size and price than most of the neighborhoods in Rancho Palos Verdes. Current price range for single-family homes is $879,000 to $1,049,000.
Silver Spur: Although homes in the Silver Spur neighborhood tend to be smaller in size, many claim bragging rights to a big view. The neighborhood is noted for stunning views of the Los Angeles Basin and the twinkling lights of the metropolis put on a nightly show. Current price range for single-family homes is $775,000 to $2,900,000.
Eastview: Formerly part of San Pedro, the neighborhood was annexed by Rancho Palos Verdes several years ago. Residents of Eastview have the option of sending their children to Palos Verdes or Los Angeles Unified Schools. Eastview offers the most affordable single-family housing option in Rancho Palos Verdes. Home prices range from $499,000 to $949,000.
In Rancho Palos Verdes, home values are predicated on many variables. Locations vary, conditions vary, size and view vary too. However, all homes in Rancho Palos Verdes share the same school system, the abundant open spaces, parks and unforgettable views. Whether you live in an oceanfront estate, a gated community or cozy little bungalow, the richness of life on the Palos Verdes Peninsula belongs to you.
Written by Norma Toering, Broker Associate, RE/MAX Palos Verdes Realty