Be Safe and Aware

PVE Sign

Valmonte is a very safe place to live.  We enjoy the fruits of a vigilant police force that preserves the privacy residents seek, with enough visible presence to keep would-be criminals from seeing Palos Verdes Estates as a place of opportunity. Compared to the national average, PVE’s crime rate is about 1/4, with the majority of the crime being burglaries and theft.   Despite the low crime rate, burglaries are on the rise, and it is up to us, the residents, to help keep burglars at bay.  How can you participate in keeping Valmonte safe?  First and foremost please report any suspicious activities to the police. If you feel threatened or if it’s an emergency, dial 911. If it is not an emergency, dial the PVE PD number 310.378.4211. Prevention is a key element to stopping crime.  PVE has a strong neighborhood watch program and has issued the following recommended actions:

Lock car doors and make sure no times are visible inside
Shred mail/papers with personal information on them
Obtain a locking mailbox
Pick up your mail daily
Close and lock garage doors when you are not inside the garage
Lock doors and windows when you are not home
Turn on your alarm when you leave
Have trusted neighbors pick up mail/packages when you are away
Get to know your neighbors

If you would like your Neighborhood Watch Area Coordinator and/or an officer to come and speak to your block on home safety, crime trends and how to avoid scams please contact the Community Relations Officer at 310-378-4211.  To connect with your neighbors and stay tuned into local events, consider joining Nextdoor, a private social network that verifies members by their address; Valmonte has over 300 members in this network.

Thanks for making Valmonte a great neighborhood and please take the time to thank our local police officers when you see them next.

3rd Quarter Valmonte Real Estate Market Report: Spoiler Alert: Prices Are Reaching New Highs!

Is it really fall?  It’s hard to believe amidst 85 degree weather that we’re getting ready for the days to slow down, stocking up on candy for the trick-or-treaters, and thinking about the coming holidays.  But like the weather, the real estate values in Valmonte are headed towards all-time highs.  The average sales price through September 30th is a record $1.546m – up over 14% from 2014.  On top of that, there have already been 45 sales through September 30th this year, compared to 34 homes sold in all of 2014.  Historically speaking, on a price/foot basic, prices have rallied 28% from market lows set in 2012 ($509/foot); however, the average price/foot is off 11% from market highs set in 2005 ($729/foot) and 2006 ($728/foot).

3025 PV Dr North

Ericson Beach Real Estate Listing – 3025 Palos Verdes Drive North

How long does it take for a house to sell?  Average days on market (DOM) for sold homes is trending downward to 42 days for listings sold in the last three months.  This is down from an average of 102 DOM in January.  This decrease in DOM can be attributed to seasonal averages.  However, compared to 2014, the DOM has actually increased.  The longer days on market can be attributed to higher overall prices for the area as well as more available inventory.  Closing prices compared to asking price have returned to 98% of asking, an indicator that on average, houses are being marketed at fair prices.  Year over year this number has improved from 94%.

What’s ahead? Locally, demand remains steady, and as high prices in the South Bay beach cities continue to price out buyers, Palos Verdes Estates and surrounding areas can expect to see continued buyer interest.  What are the potential challenges? Price growth in the short term may face headwinds with rising mortgage interest rates and a limited number of qualified buyers as prices continue to climb while wages and job growth wane.  The result – we’ll likely see a leveling off in prices until more qualified buyers enter the market.

Valmonte Market Statistics

# of Homes Price Range Ave $/foot Average price
Active listings 10 $1.338m – $2.295m $770/foot $1,714,200
In Escrow 3 $1.475m – $1.699m $620/foot $1,574,333
Sold 45 $799k – $2.625m $656/foot $1,546,067
2014 Sales 34 $865k-$2.299m $656/foot $1,354,569