Palos Verdes real estate statistics for April 2013 show an increase in inventory of Palos Verdes homes for sale which is a good thing! I think we are finally seeing our Spring surge. The number of active Palos Verdes homes for sale in April increased to 139 homes from 106 homes in March. 63 Palos Verdes houses sold in April which is an decrease from the 69 homes that sold in March and an increase from the 55 homes that sold in April 2012. There were 75 Palos Verdes single family homes pending in April compared to 72 in March.
Average sales price for Palos Verdes homes sold in April increased slightly to $1,397,000 from $1,362,000 in March. Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $513 from $484 in March. Average days on market in April was just about the same as March – 89 compared to 88 – for properties sold that month. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 2.2 months in April for Palos Verdes homes for sale compared to 1.5 months in March. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is substantially less than that indicating the strength of our local market. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 139 single family Palos Verdes homes for sale. 112 Palos Verdes houses are in escrow (56 homes have pending sales and 56 homes are accepting backup offers). Additionally, 21 homes have sold/closed escrow in the first 9 days of April with an average sales price of $1,611,262!
Chart courtesy of Trendgraphix, Inc.
