This seems to be a popular question from both Palos Verdes homes buyers and sellers. According to data supplied by the Multiple Listing service, the first three quarters of 2011 show 428 single family Palos Verdes homes sold versus 417 for the same period in 2010 or an increase of 6.5%. Average sales price for the first three quarters of 2011 was $1,378,184 versus $1,342,356 in 2010 or an increase of 2.7%.
Average price per square foot for single family Palos Verdes houses that sold in 2011 was $483 versus $488 in 2010 or a decrease of 1.1%. These statistics indicate that our Palos Verdes real estate market appears to be holding steady. We have six plus weeks to go before the end of 2011. I am hoping we finish the year with these increased sales.
Currently, there are 230 single family Palos Verdes homes for sale. 100 Palos Verdes houses are in escrow (44 pending and 54 accepting backup offers). Additionally 25 homes have sold/closed escrow in the fist 17 days of November. Click here or on the “Statistics” tab above to see a larger version of the chart above showing statistics for individual Palos Verdes real estate neighborhoods.
Chart courtesy of RE/MAX Palos Verdes Realty
