Palos Verdes Real Estate Sales January 2018 For Palos Verdes Homes
Palos Verdes real estate sales January 2018 for Palos Verdes homes decreased compared to December. 40 Palos Verdes houses sold in January which decreased from the 44 homes sold in December and increased from the the 39 homes that sold in January 2017. There were 64 Palos Verdes single family homes pending in January which increased from the 34 homes pending in December. The number of active Palos Verdes homes for sale in January (113) decreased from the 130 homes for sale in December.
Average sales price for Palos Verdes homes sold in January decreased to $1,753,000 from $1,853,000 in December and decreased from the $1,816,000 in January 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in January increased to $636 from December ($632). Average days on market in January increased to 70 days from 57 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased again to 2.8 months in January for Palos Verdes homes for sale compared to 3 months in December. 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 116 single family Palos Verdes homes for sale. 73 Palos Verdes houses are in escrow (34 homes have pending sales and 39 homes are under contract). Additionally, 12 homes have sold/closed escrow in the first 8 days of February.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.