Palos Verdes Source

Preliminary sales figures for Palos Verdes real estate for June 2009 show an upswing in single family homes sales compared to both May 2009 and June 2008 which is significant. That is good news for Palos Verdes real estate!

June 2009 has 48 closed sales compared to 24 in May – twice as many sales. And June of 2008 had only 38 closed sales compared to 48 this June. It looks like buyers have moved “off the fence”. Another interesting statistic is the “mix” for last month. As of May 31st, nearly 50% of the sales this year were under $1,000,000 and only about 8% were over $2,000,000. In June, 39% of the sales were under $1,000,000 and 8% were over $2,000,000 which means that our mid-price range of $1,000,000 – $2,000,000 made up 53% of the sales. Of the 90 single family homes in escrow, only 33% are under $1,000,000 and 13% are over $2,000,000. Again, this is good news for Palos Verdes real estate.

Final June statistics will be available at the end of the week.