Palos Verdes real estate sales August 2018 for Palos Verdes homes increased compared to July. 65 Palos Verdes houses sold in August compared to the 63 homes sold in July and increased compared to the 62 homes that sold in August 2017. There were 66 Palos Verdes single family homes pending in August which increased from the 46 homes pending in July. The number of active Palos Verdes homes for sale in August (219) decreased from the 226 homes for sale in July.
Average sales price for Palos Verdes homes sold in August increased to $1,778,000 from $1,642,000 in July and increased from the $1,693,000 in August 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in August decreased to $648 from July ($666). Average days on market in August increased to 35 days from 30 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.4 months in August for Palos Verdes homes for sale compared to 3.6 months in July. 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 230 single family Palos Verdes homes for sale. 65 Palos Verdes houses are in escrow (29 homes have pending sales and 36 homes are under contract). Additionally, 16 homes have sold/closed escrow in the first 10 days of August with an average sales price of $1,873,750.
Chart courtesy of Trendgraphix, Inc.