Palos Verdes real estate statistics for October 2013 show a slowing down in activity compared to September. 49 Palos Verdes houses sold in October which decreased from the 67 homes sold in September the 55 homes that sold in October 2012. There were 45 Palos Verdes single family homes pending in October compared to 61 in September. The number of active Palos Verdes homes for sale in October increased to 153 homes from the 148 homes in September.
Price per square foot for Palos Verdes houses that sold/closed escrow in October decreased to $538 from $550 in September. Average sales price for Palos Verdes homes sold in October decreased to $1,380,000 from $1,458,000 in September but still an increase from $1,322,000 in October 2012. Average days on market in October was 58 days which is an increase from 53 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.1 months in October for Palos Verdes homes for sale compared to 2.2 months in September. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” has been below 3.1 months for the last 15 months, indicating strong demand for Palos Verdes home. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 145 single family Palos Verdes homes for sale. 82 Palos Verdes houses are in escrow (42 homes have pending sales and 40 homes are accepting backup offers). Additionally, 22 homes have sold/closed escrow in the first 11 days of November.
Chart courtesy of Trendgraphix, Inc.
