Palos Verdes Source

Statistics for single family homes for the month of September for Palos Verdes Real Estate are now available. There were 31 closed escrows (30 in August) and 15 pending sales (35 in August). Active homes for sale have remained fairly constant (276 in September) for the last 4 months and up from the same period a year ago (227 in September 2007).

Average price for homes that closed escrow in September was up slightly at $1,476,000 compared to August at $1,454,000. Average days on market for properties that closed escrow in September fell to 57 days from 87 days in August. Months of inventory (how many months it would take to sell existing inventory at the current rate of sale)remained the nearly the same at 8.9 months; it was 9 months in August. Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 277 single familyhomes for sale on the Palos Verdes Peninsula. Additionally, 30 homes have pending sales, 27 homes are in escrow accepting backup offers and 11 homes have sold/closed escrow in the first 16 days of September.