Palos Verdes Real Estate Sales November 2014 For Palos Verdes Homes
Palos Verdes real estate sales for November 2014 for Palos Verdes homes indicates an decrease in sales compared to October. 45 Palos Verdes houses sold in November which decreased from the 60 homes sold in October and the 56 homes that sold in November 2013. There were 55 Palos Verdes single family homes pending in November which increased from the 52 homes pending in October. The number of active Palos Verdes homes for sale in November decreased to 169 homes from 188 homes in October.
Average sales price for Palos Verdes homes sold in November increased to $1,769,000 from $1,708,000 in October and was up significantly from the $1,456,000 in November 2013. Price per square foot for Palos Verdes houses that sold/closed escrow in November slightly decreased to $584 from $587 in October. Average days on market in November was 81 days which increased from the 69 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.8 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” 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 151 single family Palos Verdes homes for sale. 90 Palos Verdes houses are in escrow (34 homes have pending sales and 56 homes are accepting backup offers). Additionally, 13 homes have sold/closed escrow in the first 11 days of November.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
