Palos Verdes Real Estate Sales October 2018 For Palos Verdes Homes
Palos Verdes real estate sales October 2018 for Palos Verdes homes increased compared to September. 57 Palos Verdes houses sold in October compared to the 39 homes sold in September and increased compared to the 52 homes that sold in October 2017. There were 61 Palos Verdes single family homes pending in October which increased from the 39 homes pending in September. The number of active Palos Verdes homes for sale in October (203) decreased from the 226 homes for sale in September.
Average sales price for Palos Verdes homes sold in October increased to $1,944,000 from $1,867,000 in September and increased from the $1,630,000 in October 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in October decreased to $595 from September ($652). Average days on market in October decreased to 36 days from 50 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.6 months in October for Palos Verdes homes for sale compared to 5.8 months in September. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the high demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 209 single family Palos Verdes homes for sale. 56 Palos Verdes houses are in escrow (32 homes have pending sales and 24 homes are under contract). Additionally, 8 homes have sold/closed escrow in the first 8 days of September with an average sales price of $2,250863.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.