October 2010 statistics for Palos Verdes real estate are available and our market keeps moving along. We are starting to see the traditional slowdown going into the holiday season. Pending sales for October are up to 51 from 37 in September. There were 45 sales/closed escrows in October compared to 56 in September. October inventory is again down to 254 active Palos Verdes Homes for sale compared to 262 in September. Average sales price for October was $1,441,000 which was the second highest month this year (September average sales price was $1,464,000).
Average Days on Market for homes that closed in escrow in October was 62 days down from 66 days in September. The average price per square foot for Palos Verdes homes was $487 in October compared to $492 in September. Months of Inventory (months it would take to sell existing inventory at the current rate of sale) for October was 5.6 months – up from 4.7 in September, but still under 6 months which is considered a normal market. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 253 Palos Verdes homes for sale. 70 single family homes are in escrow (37 homes have pending sales and 33 homes are accepting backup offers). Additionally, 5 homes have sold/closed escrow in the first 10 days of November.
Chart courtesy of Trendgraphix, Inc.
