Palos Verdes Real Estate Sales October 2015 For Palos Verdes Homes
Palos Verdes real estate sales for October 2015 for Palos Verdes homes have increased compared to September. 67 Palos Verdes houses sold in October which increased from the 61 homes sold in September and the 62 homes that sold in October 2014. There were 58 Palos Verdes single family homes pending in October which increased from the 51 homes pending in September. The number of active Palos Verdes homes for sale in October decreased to 202 homes from the 212 homes for sale in September.
Average sales price for Palos Verdes homes sold in October increased to $1,775,000 from $1,535,000 in September and decreased from $1,889,000 in October 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in October increased to $628 from $565 in September. Average days on market in October was 71 days which increased from the 67 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3 months in October for Palos Verdes homes for sale compared to 3.5 months in September. 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 196 single family Palos Verdes homes for sale. 87 Palos Verdes houses are in escrow (39 homes have pending sales and 48 homes are accepting backup offers). Additionally, 13 homes have sold/closed escrow in the first 9 days of October at an average sales price of $1,649,154.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
