Palos Verdes November 2009 Market Statistics

Statistics for the month of November 2009 for Palos Verdes real estate are now available and again we show strong sales numbers for single family homes when compared to this time last year.   Palos Verdes homes for sale decreased again to 219 (from 243 in October).  This is good as the a decrease in supply coupled with a consistent demand keeps prices stable.  42 Palos Verdes homes Sold/closed escrow in November and 47 homes have Pending Sales.  As you can see from the chart above, this is twice the activity we saw in November of 2008.

The average price for single family Palos Verdes homes that sold in November was $1,130,000 which is down from October at $1,260,000.  There have been more sales in the low end of the Palos Verdes real estate market in 2009  Average price per square foot for Palos Verdes homes in November was $480 which is  the average for the prior six months.  Average Days on Market in November fell to 76 from 112 in October.  Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for November was 5.2 which was a one month rise from October.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 202 Palos Verdes homes for sale.  Additionally 47 homes have pending sales, 40 homes are in escrow accepting backup offers and 18 homes have sold/closed escrow in the first 14 days of December and one home sold for $6,400,000!

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