Palos Verdes Real Estate Sales June 2016 For Palos Verdes Homes
Palos Verdes real estate sales June 2016 for Palos Verdes homes increased compared to May. 82 Palos Verdes houses sold in June which increased from the 75 homes sold in May and decreased from the the 90 homes that sold in June 2015. There were 73 Palos Verdes single family homes pending in June which decreased from the 84 homes pending in May. The number of active Palos Verdes homes for sale in June (242) increased from the 198 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $1,788,000 from $1,673,000 in May and from the $1,761,000 in June 2015. Price per square foot for Palos Verdes houses that sold/closed escrow in June increased to $643 from $591 in May. Average days on market in June increased to 64 days from the 61 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.0 months in June for Palos Verdes homes for sale compared to 2.6 months in May. 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 246 single family Palos Verdes homes for sale. 106 Palos Verdes houses are in escrow (56 homes have pending sales and 50 homes are accepting backup offers). Additionally, 16 homes have sold/closed escrow in the first 11 days of July at an average sales price of $1,631,000.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
