Palos Verdes Real Estate Sales June 2015 For Palos Verdes Homes
Palos Verdes real estate sales for June 2015 for Palos Verdes homes indicates a significant increase in sales compared to May. 90 Palos Verdes houses sold in June which increased from the 61 homes sold in May and the 54 homes that sold in June 2014. There were 86 Palos Verdes single family homes pending in June which increased from the 77 homes pending in May. The number of active Palos Verdes homes for sale in June increased to 199 homes from the 172 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $1,761,000 from $1,550,000 in May and from $1,692,000 in June 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in June decreased to $584 from $602 in May. Average days on market in June was 75 days which increased from the 67 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.2 months in June for Palos Verdes homes for sale compared to 2.8 months in May. 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 189 single family Palos Verdes homes for sale. 113 Palos Verdes houses are in escrow (53 homes have pending sales and 60 homes are accepting backup offers). Additionally, 16 homes have sold/closed escrow in the first 9 days of June at an average sales price of $2,329,006.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
