January 2009 Market Satistics


Statistics for single family homes for the month of January for Palos Verdes Real Estate are now available. January 2009 compared to January 2008 has the same number of sold/closed escrows, 1 additional pending escrow, and 46 more active listings/home for sale. Average price per square foot for homes that sold January 2009 is $494 compared to $545 last January.

For the month of January, there were 15 closed escrows (23 in December) and 12 pending sales (14 in December). Active single family homes for sale have risen to 247 (from 222 in December). Average price for homes that closed in January decreased to $1,194,000 from $1,248,000 in December. Average days on market in January decreased to 70 (from 87 in December). Months of inventory (how many months it would take to sell existing inventory at the current rate of sale) increased to 16.5 months (from 9.7 in December). Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 262 single family homes for sale on the Palos Verdes Peninsula. Additionally, 23 homes have pending sales, 23 homes are in escrow accepting backup offers and 5 homes have sold/closed escrow in the first 13 days of January.

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