Palos Verdes Real Estate Sales November 2015 For Palos Verdes Homes
Palos Verdes real estate sales for November 2015 for Palos Verdes homes decreased compared to October. 41 Palos Verdes houses sold in November which decreased from the 68 homes sold in October and the 46 homes that sold in November 2014. There were 57 Palos Verdes single family homes pending in November which increased from the 55 homes pending in October. The number of active Palos Verdes homes for sale in November decreased to 168 homes from the 202 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $1,662,000 from $1,760,000 in October and from the $1,758,000 in November 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $569 from $629 in October. Average days on market in November was 71 days which just about the same as the 70 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 4.1 months in November for Palos Verdes homes for sale compared to 3 months in October. 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 161 single family Palos Verdes homes for sale. 83 Palos Verdes houses are in escrow (38 homes have pending sales and 45 homes are accepting backup offers). Additionally, 23 homes have sold/closed escrow in the first 10 days of December at an average sales price of $1,577,909.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
