Palos Verdes Real Estate Sales February 2015 For Palos Verdes Homes
Palos Verdes real estate sales for February 2015 for Palos Verdes homes indicates an increase in sales compared to January. 39 Palos Verdes houses sold in February which increased from the 36 homes sold in January and the 31 homes that sold in February 2014. There were 68 Palos Verdes single family homes pending in February which is a significant increase from the 50 homes pending in January. The number of active Palos Verdes homes for sale in February was similar to January – 147 homes in February and 144 homes in January.
Average sales price for Palos Verdes homes sold in February decreased to $1,771,000 from $1,922,000 in January and was up significantly from the $1,310,000 in February 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in February decreased to $636 from $710 in January. Average days on market in February was 83 days which decreased from the 91 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.8 months in February for Palos Verdes homes for sale compared to 4 months in January. 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 142 single family Palos Verdes homes for sale. 110 Palos Verdes houses are in escrow (50 homes have pending sales and 60 homes are accepting backup offers). Additionally, 13 homes have sold/closed escrow in the first 10 days of March.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
