Palos Verdes Real Estate Sales August 2015 For Palos Verdes Homes
Palos Verdes real estate sales for August 2015 for Palos Verdes homes indicates a decrease in sales compared to July. 59 Palos Verdes houses sold in August which decreased from the 72 homes sold in July and the 67 homes that sold in August 2014. There were 87 Palos Verdes single family homes pending in August which increased from the 65 homes pending in July. The number of active Palos Verdes homes for sale in August decreased to 204 homes from the 212 homes for sale in July.
Average sales price for Palos Verdes homes sold in August increased to $2,038,000 from $1,845,000 in July and from $1,649,000 in August 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in August decreased to $606 from $676 in July. Average days on market in August was 79 days which increased from the 50 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.5 months in August for Palos Verdes homes for sale compared to 2.9 months in July. 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. Nationally, there is a 5.3 month’s supply of homes on the market. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 200 single family Palos Verdes homes for sale. 112 Palos Verdes houses are in escrow (51 homes have pending sales and 61 homes are accepting backup offers). Additionally, 19 homes have sold/closed escrow in the first 10 days of August.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
