Palos Verdes Real Estate Sales December 2017 For Palos Verdes Homes
Palos Verdes real estate sales December 2017 for Palos Verdes homes increased compared to November. 43 Palos Verdes houses sold in December which increased from the 39 homes sold in November and decreased from the the 66 homes that sold in December 2016. There were 42 Palos Verdes single family homes pending in December which decreased from the 45 homes pending in November. The number of active Palos Verdes homes for sale in December (130) decreased from the 152 homes for sale in November.
Average sales price for Palos Verdes homes sold in December increased to $1,842,000 from $1,794,000 in November and increased from the $1,738,000 in December 2016. Price per square foot for Palos Verdes houses that sold/closed escrow in December decreased to $632 from November ($669). Average days on market in December increased to 56 days from 52 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3 months in December for Palos Verdes homes for sale compared to 3.9 months in November. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is 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 127 single family Palos Verdes homes for sale. 55 Palos Verdes houses are in escrow (29 homes have pending sales and 26 homes are under contract). Additionally, 8 homes have sold/closed escrow in the first 8 days of January.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.