Palos Verdes Real Estate Sales April 2015 For Palos Verdes Homes
Palos Verdes real estate sales for April 2015 for Palos Verdes homes indicates an increase in sales compared to March. 66 Palos Verdes houses sold in April which increased from the 58 homes sold in March and the 50 homes that sold in April 2014. There were 86 Palos Verdes single family homes pending in April which is a significant increase from the 75 homes pending in March. The number of active Palos Verdes homes for sale in April increased slightly to 157 homes from the 152 homes for sale in March.
Average sales price for Palos Verdes homes sold in April increased to $1,785,000 from $1,502,000 in March and from the $1,463,000 in April 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $597 from $584 in March. Average days on market in April was 74 days which just about the same as the 73 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.4 months in April for Palos Verdes homes for sale compared to 2.6 months in March. 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. 121 Palos Verdes houses are in escrow (61 homes have pending sales and 60 homes are accepting backup offers). Additionally, 18 homes have sold/closed escrow in the first 8 days of May.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
