Palos Verdes real estate sales June 2019 for Palos Verdes homes decreased compared to May. 61 Palos Verdes houses sold in June compared to the 65 homes sold in May and decreased from the the 82 homes that sold in June 2018. There were 72 Palos Verdes single family homes pending in June which decreased from the 79 homes pending in May. The number of active Palos Verdes homes for sale in June (258) increased from the 241 homes for sale in May.
Average sales price for Palos Verdes homes sold in June decreased to $1,818,000 from $1,908,000 in May and decreased from the $2,025,000 in June 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in June decreased to $651 from May ($653). Average days on market in June decreased to 35 days from 44 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 4.2 months in June for Palos Verdes homes for sale compared to 3.7 months in May. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the higher demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 262 single family Palos Verdes homes for sale. 104 Palos Verdes houses are in escrow (50 homes have pending sales and 54 homes are under contract). Additionally, 14 homes have sold/closed escrow in the first 8 days of July with an average sales price of $2,207,927.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.