Palos Verdes Real Estate Sales September 2015 For Palos Verdes Homes
Palos Verdes real estate sales for September 2015 for Palos Verdes homes is just about the same as August. 61 Palos Verdes houses sold in September which increased slightly from the 60 homes sold in August and the 57 homes that sold in September 2014. There were 62 Palos Verdes single family homes pending in September which decreased from the 78 homes pending in August. The number of active Palos Verdes homes for sale in September increased to 212 homes from the 204 homes for sale in August.
Average sales price for Palos Verdes homes sold in September decreased to $1,635,000 from $2,031,000 in August and from $1,911,000 in September 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in September decreased to $565 from $606 in August. Average days on market in September was 67 days which decreased from the 79 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.5 months in September for Palos Verdes homes for sale compared to 3.4 months in August. 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 195 single family Palos Verdes homes for sale. 101 Palos Verdes houses are in escrow (51 homes have pending sales and 50 homes are accepting backup offers). Additionally, 25 homes have sold/closed escrow in the first 12 days of September at an average sales price of $2,003,660.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
