Palos Verdes real estate statistics for December 2013 show an decrease in sales compared to November. 46 Palos Verdes houses sold in December which decreased from the 56 homes sold in November and the 60 homes that sold in December 2012. There were 40 Palos Verdes single family homes pending in December compared to 43 in November. The number of active Palos Verdes homes for sale in December decreased to 94 homes from the 129 homes in November.
Average sales price for Palos Verdes homes sold in December increased to $1,591,000 from $1,456,000 in November and an increase from the $1,425,000 in December 2012. Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $542 from $521 in November. Average days on market in December was 101 days which is a substantial increase from 72 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2 months in December for Palos Verdes homes for sale compared to 2.3 months in November. 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 17 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 98 single family Palos Verdes homes for sale. 61 Palos Verdes houses are in escrow (27 homes have pending sales and 34 homes are accepting backup offers). Additionally, 11 homes have sold/closed escrow in the first 8 days of December with an average sales price of $1,550,645 .
Chart courtesy of Trendgraphix, Inc.
