Palos Verdes real estate statistics for September 2013 show very similar numbers for Palos Verdes homes sold across most categories when compared to August. 67 Palos Verdes houses sold in September which is exactly the same as August and an increase from the 58 homes that sold in September 2012. There were 65 Palos Verdes single family homes pending in September compared to 75 in August. The number of active Palos Verdes homes for sale in September was nearly the same as August – 148 in September and 147 in August.
Price per square foot for Palos Verdes houses that sold/closed escrow in September increased to $550 from $517 in August. Average sales price for Palos Verdes homes sold in September decreased slightly to $1,458,000 from $1,466,000 in August but has been increasing for the last twelve months when it was $1,332,000 in September 2012. Average days on market in September was 53 days, almost the same as the 54 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was exactly the same – 2.2 months in September for Palos Verdes homes for sale and 2.2 months in August. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” has been below 3 months for the last year, indicating strong Palos Verdes home values. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 148 single family Palos Verdes homes for sale. 93 Palos Verdes houses are in escrow (47 homes have pending sales and 46 homes are accepting backup offers). Additionally, 16 homes have sold/closed escrow in the first 10 days of October.
Chart courtesy of Trendgraphix, Inc.