June 2011 statistics for Palos Verdes real estate are similar to the numbers for May except 67 Palos Verdes houses had pending sales in June 2011 compared to 52 homes in May. 52 Palos Verdes homes sold/closed escrow in June while 60 homes sold in May.
In June, price per square foot for Palos Verdes homes was up slightly to $495 from $490 in May while the average price for Palos Verdes houses sold in June was down slightly to $1,445,000 from $1,491,000 in May. Another positive change in June was average days on market which fell to 59 days from 92 days in May; inventory of active Palos Verdes homes for sale fell slightly to 285 homes in June from 294 homes in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) rose to 5.5 months in June from 4.9 months in May. A “normal” market is considered to be 6 months and anything less is good! Entire charts can be accessed by clicking here or on the “Statistics ” tab above.
Currently, there are 281 single family Palos Verdes homes for sale. 105 Palos Verdes houses are in escrow (53 homes have pending sales and 52 homes are accepting backup offers). Additionally, 17 homes have sold/closed escrow in the first 11 days of July.
Chart courtesy of Trendgraphix, Inc.
