Palos Verdes Real Estate Sales December 2015 For Palos Verdes Homes
Palos Verdes real estate sales December 2015 for Palos Verdes homes increased significantly compared to November! 59 Palos Verdes houses sold in December which increased from the 41 homes sold in November and the 48 homes that sold in December 2014. There were 34 Palos Verdes single family homes pending in December which decreased from the 50 homes pending in November. The number of active Palos Verdes homes for sale in December decreased to 146 homes from the 168 homes for sale in November.
Average sales price for Palos Verdes homes sold in December decreased to $1,546,000 from $1,662,000 in November and from the $1,621,000 in December 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $600 from $569 in November. Average days on market in December decreased to 66 days from the 71 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.6 months in December for Palos Verdes homes for sale compared to 4.1 months in November. 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 146 single family Palos Verdes homes for sale. 61 Palos Verdes houses are in escrow (28 homes have pending sales and 33 homes are accepting backup offers). Additionally, 7 homes have sold/closed escrow in the first 8 days of January at an average sales price of $1,668,643.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
