Palos Verdes Real Estate Sales September 2014 For Palos Verdes Homes
Palos Verdes real estate sales for September 2014 for Palos Verdes homes indicates a decrease in sales compared to August. 57 Palos Verdes houses sold in September which decreased from the 77 homes sold in August and the 68 homes that sold in September 2013. There were 74 Palos Verdes single family homes pending in September which increased from the 69 homes pending in August. The number of active Palos Verdes homes for sale in September decreased to 199 homes from 218 homes in August.
Average sales price for Palos Verdes homes sold in September increased significantly to $1,911,000 from $1,649,000 in August and was up from the $1,448,000 in September 2013. Price per square foot for Palos Verdes houses that sold/closed escrow in September also increased to $642 from $607 in August. Average days on market in September was 68 days which increased from 53 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.5 months in September for Palos Verdes homes for sale compared to 3.3 months in August. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is significantly lower indicating the continuing high demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 193 single family Palos Verdes homes for sale. 93 Palos Verdes houses are in escrow (41 homes have pending sales and 52 homes are accepting backup offers). Additionally, 15 homes have sold/closed escrow in the first 9 days of September at an average sales price of $1,742,650.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
