Palos Verdes Real Estate Sales December 2014 For Palos Verdes Homes
Palos Verdes real estate sales for December 2014 for Palos Verdes homes indicates a slight increase in sales compared to November. 48 Palos Verdes houses sold in December which increased from the 46 homes sold in November and the 46 homes that sold in December 2013. There were 46 Palos Verdes single family homes pending in December which decreased from the 52 homes pending in November. The number of active Palos Verdes homes for sale in December decreased to 144 homes from 169 homes in November.
Average sales price for Palos Verdes homes sold in December decreased to $1,621,000 from $1,758,000 in November and was up from the $1,591,000 in December 2013. Price per square foot for Palos Verdes houses that sold/closed escrow in December decreased to $565 from $575 in November. Average days on market in December was 80 days which is exactly the same as November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3 months in December for Palos Verdes homes for sale compared to 3.7 months in November. 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 143 single family Palos Verdes homes for sale. 60 Palos Verdes houses are in escrow (26 homes have pending sales and 34 homes are accepting backup offers). Additionally, 16 homes have sold/closed escrow in the first 9 days of December at an average sales price of $2,447,073. That higher average sales price is due to a $15,500,000 home that closed the first week of January!
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
