Palos Verdes Real Estate Sales October 2014 For Palos Verdes Homes
Palos Verdes real estate sales for October 2014 for Palos Verdes homes indicates an increase in sales compared to September. 60 Palos Verdes houses sold in October which increased from the 57 homes sold in September and the 49 homes that sold in October 2013. There were 65 Palos Verdes single family homes pending in October which increased from the 62 homes pending in September. The number of active Palos Verdes homes for sale in October decreased to 188 homes from 199 homes in September.
Average sales price for Palos Verdes homes sold in October decreased to $1,708,000 from $1,911,000 in September and was up significantly from the $1,38,000 in October 2013. Price per square foot for Palos Verdes houses that sold/closed escrow in October also decreased to $587 from $642 in September. Average days on market in October was 69 days which was just about the same as the 68 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.1 months in October for Palos Verdes homes for sale compared to 3.5 months in September. 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 188 single family Palos Verdes homes for sale. 84 Palos Verdes houses are in escrow (30 homes have pending sales and 54 homes are accepting backup offers). Additionally, 10 homes have sold/closed escrow in the first 11 days of October.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
