Palos Verdes Real Estate Sales September 2016 For Palos Verdes Homes
Palos Verdes real estate sales September 2016 for Palos Verdes homes decreased compared to August. 39 Palos Verdes houses sold in September which decreased from the 66 homes sold in August and the the 61 homes that sold in September 2015. There were 66 Palos Verdes single family homes pending in September which increased from the 50 homes pending in August. The number of active Palos Verdes homes for sale in September (216) decreased from the 241 homes for sale in August.
Average sales price for Palos Verdes homes sold in September decreased to $1,519,000 from $1,747,000 in August and from the $1,535,000 in September 2015. Price per square foot for Palos Verdes houses that sold/closed escrow in September decreased to $600 from $657 in August. Average days on market in September increased slightly to 61 days from the 60 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 5.5 months in September for Palos Verdes homes for sale compared to 3.7 months in August. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is still 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 210 single family Palos Verdes homes for sale. 103 Palos Verdes houses are in escrow (42 homes have pending sales and 61 homes are under contract). Additionally, 17 homes have sold/closed escrow in the first 13 days of October.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
