Palos Verdes real estate statistics for November 2013 show an increase in sales compared to October. 56 Palos Verdes houses sold in November which increased from the 49 homes sold in October the 50 homes that sold in November 2012. There were 43 Palos Verdes single family homes pending in November compared to 46 in October. The number of active Palos Verdes homes for sale in November decreased to 129 homes from the 153 homes in October.
Average sales price for Palos Verdes homes sold in November increased to $1,456,000 from $1,380,000 in October and had quite an increase from the $1,290,000 in November 2012. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $521 from $538 in October. Average days on market in November was 72 days which is an increase from 58 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.3 months in November for Palos Verdes homes for sale compared to 3.1 months in October. 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 16 months, indicating strong demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 120 single family Palos Verdes homes for sale. 77 Palos Verdes houses are in escrow (39 homes have pending sales and 38 homes are accepting backup offers). Additionally, 15 homes have sold/closed escrow in the first 9 days of December with an average sales price of $1,500,467.
Chart courtesy of Trendgraphix, Inc.
