Palos Verdes Real Estate Sales March 2017 For Palos Verdes Homes

Palos Verdes real estate sales March 2017 for Palos Verdes homes increased compared to February.  56 Palos Verdes houses sold in March which is an increase from the 38 homes sold in February and a decrease from the the 59 homes that sold in March 2016.  There were 68 Palos Verdes single family homes pending in March which increased significantly from the 56 homes pending in February.  The number of active Palos Verdes homes for sale in March (159) was an increase from the 147 homes for sale in February.

Average sales price for Palos Verdes homes sold in March decreased to $1,782,000 from $1,803,000 in February and increased from the $1,769,000 in March 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in March increased to $671 from $660 in February.  Average days on market in March decreased to 60 days from the 65 days in February.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.8 months in March for Palos Verdes homes for sale compared to 3.9 months in February.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is still lower indicating the continuing high demand for Palos Verdes homes.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 175 single family Palos Verdes homes for sale.  110 Palos Verdes houses are in escrow (54 homes have pending sales and 56 homes are under contract).  Additionally, 10 homes have sold/closed escrow in the first 10 days of April.

To read last month’s report on Palos Verdes Real Estate sales, click here.

Chart courtesy of Trendgraphix, Inc.