January 2011 statistics for Palos Verdes real estate again indicate stability. Other than the anomaly last November, single family Palos Verdes home sales have been between 30 to 57 sold homes per month. 36 Palos Verdes homes sold/closed escrow in January compared to 48 homes sold in December and 30 homes sold a year ago in January 2010. In January 2011, 53 homes had pending sales up from 36 homes in December. There were 193 active Palos Verdes homes for sale which is up from 188 active homes for sale in December – and that number will probably continues to rise as we are getting into the Spring selling season.
Average sales price for January 2011 was $1,251,000 which was down from $1,375,000 in December. The average days on market for Palos Verdes homes was 81 days, up from 72 days in December. Months of Inventory (months it would take to sell existing inventory at the current rate of sale) was 5.4 months in January compared to 3.9 in December 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 195 Palos Verdes homes for sale. 93 single family homes are in escrow (47 homes have pending sales and 46 homes are accepting backup offers). Additionally, 4 homes have sold/closed escrow in the first 9 days of February – 2 of the sales were over $2,500,000.
Chart courtesy of Trendgraphix, Inc.
