Palos Verdes real estate statistics for June 2013 show continued strength of the market for Palos Verdes homes. 68 Palos Verdes houses sold in June which is an increase from the 62 homes that sold in May and a decrease from the 72 homes that sold in June 2012. There were 74 Palos Verdes single family homes pending in June compared to 68 in May. The number of active Palos Verdes homes for sale in June increased to 155 from 136 homes in May but significantly lower than the 196 active homes for sale in June of last year.
Price per square foot for Palos Verdes houses that sold/closed escrow in June increased to $526 from $519 in May. Average sales price for Palos Verdes homes sold in June increased slightly to $1,468,000 from $1,464,000 in May. Average days on market in June increased t0 76 days from 55 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.3 months in June for Palos Verdes homes for sale – just about the same as the prior two months. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” has substantially less than that for the last sixteen months, indicating strong Palos Verdes home values. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 165 single family Palos Verdes homes for sale. 106 Palos Verdes houses are in escrow (53 homes have pending sales and 53 homes are accepting backup offers). Additionally, 22 homes have sold/closed escrow in the first 11 days of July.
Chart courtesy of Trendgraphix, Inc.
