Palos Verdes Real Estate Sales February 2018 For Palos Verdes Homes
Palos Verdes real estate sales February 2018 for Palos Verdes homes was just about the same as January. 49 Palos Verdes houses sold in February compared to the 50 homes sold in January and was exactly the same as the 49 homes that sold in February 2017. There were 76 Palos Verdes single family homes pending in February which increased from the 68 homes pending in January. The number of active Palos Verdes homes for sale in February (165) increased from the 131 homes for sale in January.
Average sales price for Palos Verdes homes sold in February increased to $1,630,000 from $1,592,000 in January and increased from the $1,529,000 in February 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in February increased to $635 from January ($619). Average days on market in February decreased to 56 days from 65 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.4 months in February for Palos Verdes homes for sale compared to 2.6 months in January. 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 148 single family Palos Verdes homes for sale. 78 Palos Verdes houses are in escrow (42 homes have pending sales and 36 homes are under contract). Additionally, 13 homes have sold/closed escrow in the first 8 days of March at an average sales price of $1,760,768.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.