Statistics for single family homes for the month of April for Palos Verdes Real Estate are now available. April 2009 had 3 less closed sales and 5 less pending sales than March 2009. Inventory of active listings/homes for sale rose again slightly for the fourth consecutive month which is great for buyers. The average price for homes that closed in April increased 20%.
For the month of April, there were 26 closed sales (29 in March) and 26 pending sales (31 in March). Active single family homes for sale rose to 291 (from 284 in March). Average price for homes that closed in April increased to $1,513,000 from $1,259,000 in March. Average days on market in April increased to 108 (from 68 in March). Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 11.2 months (from 9.8 in March). Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 295 single family homes for sale on the Palos Verdes Peninsula. Additionally, 41 homes have pending sales, 46 homes are in esrow accepting backup offers and 7 homes have sold/closed escrow in the first 11 days of May. The homes in escrow in pending and backup have increased nearly 70% since this time last month!
