September 2009 Market Statistics

Statistics for the month of September for Palos Verdes real estate are now available and for the numbers indicate stability for the last 5 months.  As you will note from the graph above, the number of active single family homes for sale in Palos Verdes has been falling for the last several months and is an all time low (for the last 15 months) of 247.   For the month of September, there were 49 homes that sold/closed escrow (August had 51) and 64 homes had pending sales (the same as September).

The average price for homes that sold in September was $1,343,000 and the average for the last five months was $1,327,000.  Average Days on Market for the last 5 months have fluctuated between 66 and 88 days; for September the Average Days on Market was 77.  Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for September was 5 months down from 5.4 months in August.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 246 single family homes for sale on the Palos Verdes Peninsula.  Additionally 52 homes have pending sales, 48 homes are in escrow accepting backup offers and 21 homes have sold/closed escrow in the first 11 days of October.

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