Palos Verdes Real Estate Sales January 2015 For Palos Verdes Homes
Palos Verdes real estate sales for January 2015 for Palos Verdes homes indicates a decrease in sales compared to December. 36 Palos Verdes houses sold in January which decreased from the 48 homes sold in December and the 42 homes that sold in January 2014. There were 55 Palos Verdes single family homes pending in January which is a significant increase from the 38 homes pending in December. The number of active Palos Verdes homes for sale in January was exactly the same as December – 144 homes.
Average sales price for Palos Verdes homes sold in January increased to $1,922,000 from $1,621,000 in December and was up from the $1,826,000 in January 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in January increased to $710 from $565 in December. Average days on market in January was 91 days which increased from the 80 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 4 months in January for Palos Verdes homes for sale compared to 3 months in December. 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 137 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, 11 homes have sold/closed escrow in the first 9 days of January at an average sales price of $2,202,091.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
