Palos Verdes real estate statistics for January 2012 show an increase in pending sales and a decrease in sales from December. 47 Palos Verdes houses had pending sales in January compared to 35 single family homes pending in December. 33 Palos Verdes houses sold in January compared to 47 homes in December. Inventory of active Palos Verdes homes for sale was 192 in January compared to 172 in December – the beginning of an increase in the number of homes for sale leading up to the Spring selling season. We are still at historic lows for inventory of active Palos Verdes homes for sale which makes it more of a balanced market between buyers and sellers.
Average sales price for Palos Verdes homes sold in January was $1,585,000 compared to $1,462,000 in December. A $7,000,000 home sold in January which probably helped that statistic. Price per square foot for Palos Verdes houses that sold/closed escrow in January was $509 which increased from $449 in December. Average days on market in January was 94 days which was just about the same as December’s 97 days for properties sold that month. Months of inventory (months it would take to sell existing inventory at the current rate of sale) rose to 5.8 months for January compared to 3.7 months in December. An “normal” market is considered 6 months of inventory. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 196 single family Palos Verdes homes for sale. 94 Palos Verdes houses are in escrow (44 homes have pending sales and 50 homes are accepting backup offers). Additionally, 12 homes have sold/closed escrow in the first 10 days of January.
Chart courtesy of Trendgraphix, Inc.
