Palos Verdes Real Estate Sales March 2015 For Palos Verdes Homes
Palos Verdes real estate sales for March 2015 for Palos Verdes homes indicates an increase in sales compared to February. 58 Palos Verdes houses sold in March which increased from the 39 homes sold in February and the 47 homes that sold in March 2014. There were 79 Palos Verdes single family homes pending in March which is a significant increase from the 61 homes pending in February. The number of active Palos Verdes homes for sale in March increased slightly to 152 homes from the 147 homes for sale in February.
Average sales price for Palos Verdes homes sold in March decreased to $1,502,000 from $1,771,000 in February and from the $1,601,000 in March 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in March decreased to $584 from $636 in February. Average days on market in March was 73 days which decreased from the 83 days in February. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.6 months in March for Palos Verdes homes for sale compared to 3.8 months in February. 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 160 single family Palos Verdes homes for sale. 105 Palos Verdes houses are in escrow (48 homes have pending sales and 57 homes are accepting backup offers). Additionally, 24 homes have sold/closed escrow in the first 10 days of April with an average sales price of $2,285,292.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
