Palos Verdes real estate statistics for July 2013 show continued strength of the market for Palos Verdes homes. 72 Palos Verdes houses sold in July which is an increase from the 68 homes that sold in June and 57% higher than the 46 homes that sold in Jul7 2012. There were 74 Palos Verdes single family homes pending in July compared to 68 in June. The number of active Palos Verdes homes for sale in July decreased to 148 from 155 homes in June.
Price per square foot for Palos Verdes houses that sold/closed escrow in July was about the same as June – $527 compared to $526. Average sales price for Palos Verdes homes sold in July decreased slightly to $1,461,000 from $1,468,000 in June. Average days on market in July decreased t0 56 days from 76 days in June. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.1 months in July for Palos Verdes homes for sale from 2.3 months in June. 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 seventeen months, indicating strong Palos Verdes home values. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 159 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, 18 homes have sold/closed escrow in the first 9 days of July with an average sales price of $1,561,667!
Chart courtesy of Trendgraphix, Inc.
