November Market Statistics


Statistics for single family homes for the month of November for Palos Verdes Real Estate are now available. To date, our prices have remained fairly steady with only 2.9% decrease in average price since January 1, 2008, compared to average 2007 sold price. Average price per square foot since the first of the year is down 5.8% from average 2007 square foot price. The median price has decreased 4.7% compared to 2007 median price. 2007 and 2006 both showed increased sales prices. We are fortunate that our real estate values on the Peninsula have not been tracking the rest of the country.

For the month of November, there were 23 closed escrows (21 in October) and 15 pending sales (24 in October). Active homes for sale have ben reduced to 239 (264 in October). Average price for homes that closed in November increased to $1,434,000 from $1,227,000 in October. Average days on market in November decreased to 61 (from 94 in October). Months of inventory (how many months it would take to sell existing inventory at the current rate of sale) decreased to 10.4 months (from 12.6 in October). Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 241 single family homes for sale on the Palos Verdes Peninsula. Additionally, 26 homes have pending sales, 17 homes are in escrow accepting backup offers and 13 homes have sold/closed escrow in the first 12 days of December.

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