Palos Verdes Real Estate Sales April 2016 For Palos Verdes Homes
Palos Verdes real estate sales April 2016 for Palos Verdes homes increased compared to March. 65 Palos Verdes houses sold in April which increased from the 59 homes sold in March and was just about the same as the 66 homes that sold in April 2015. There were 87 Palos Verdes single family homes pending in April which increased from the 69 homes pending in March. The number of active Palos Verdes homes for sale in April (175) was exactly the same as the 175 homes for sale in March.
Average sales price for Palos Verdes homes sold in April decreased to $1,547,000 from $1,769,000 in March and from the $1,751,000 in April 2015. Price per square foot for Palos Verdes houses that sold/closed escrow in April decreased to $572 from $615 in March. Average days on market in April decreased to 64 days from the 75 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.7 months in April for Palos Verdes homes for sale compared to 3 months in March. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is still 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 191 single family Palos Verdes homes for sale. 120 Palos Verdes houses are in escrow (59 homes have pending sales and 61 homes are accepting backup offers). Additionally, 21 homes have sold/closed escrow in the first 9 days of May at an average sales price of $1,612,881.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
