July 2009 Market Statistics


Statistics for single family homes for the month of July for Palos Verdes real estate are now available and for the second month in a row, the numbers are looking better. As you will note from the graph above, the number of active single family homes for sale in Palos Verdes have fallen from 437 July 2008 to 331 for July 2009. Pending sales climbed to 84 for July 2009 from 69 in June 2009 and way up from July2008 which had 33 pending sales.

Average price per square foot for the last 10 months has been holding pretty steady with small ups and downs and averaging $467 (July 2009 was $462). Average Days on Market in July fell to 69 from a high of 117 days in April. The average price has remained constant the last 3 months – It was $1,133,000 in July 2009. Months of inventory (months it would take to sell existing inventory at the current rate of sale) for July 2009 was 5.7 which was exactly the same at June 2009. Entire charts can be accessed by clicking here or on the “Statistic” tab above.

Currently, there are 280 single family homes for sale on the Palos Verdes Peninsula. Additionally, 56 homes have pending sales, 42 homes are in escrow accepting backup offers and 15 homes have sold/closed escrow in the first 11 of August.

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