February 2011 statistics for Palos Verdes real estate indicate that we are “holding”. 32 Palos Verdes homes sold/closed escrow in February compared to 37 homes sold in January and this February compared to February 2010 were exactly the same with 32 homes sold. February 2011 had 51 homes with pending sales – up from 49 homes in January. There were 209 active Palos Verdes homes for salein February compared to 193 homes in January. The trend is going upward for the Spring selling season.
Average sales price for February 2011 was $1,361,000 which was up from $$1,246,000 in January. The average days on market for Palos Verdes homes was 95 days, up from 79 days in January. The average price per square foot for February was $493 compared to $459 per square foot for January. Months of Inventory (months it would take to sell existing inventory at the current rate of sale) was 6.5 months in February compared to 5.3 months in January. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 224 Palos Verdes homes for sale. 92 single family homes are in escrow (39 homes have pending sales and 53 homes are accepting backup offers). Additionally, 12 homes have sold/closed escrow in the first 10 days of March – one for $9,150,000!
Chart courtesy of Trendgraphix, Inc.
