Palos Verdes Real Estate Sales November 2016 For Palos Verdes Homes

Palos Verdes real estate sales November 2016 for Palos Verdes homes increased compared to October.  53 Palos Verdes houses sold in November which is exactly the same as the 53 homes sold in October and a decrease from the the 59 homes that sold in November 2015.  There were 56 Palos Verdes single family homes pending in November which decreased from the 69 homes pending in October.  The number of active Palos Verdes homes for sale in November (166) decreased  from the 196 homes for sale in October.

Average sales price for Palos Verdes homes sold in November increased to $1,698,000 from $1,690,000 in October and increased from the $1,546,000 in November 2015.  Price per square foot for Palos Verdes houses that sold/closed escrow in November increased to $614 from $579 in October.  Average days on market in November increased to 86 days from the 63 days in October.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.1 months in November for Palos Verdes homes for sale compared to 3.7 months in October.  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 155 single family Palos Verdes homes for sale.  87 Palos Verdes houses are in escrow (46 homes have pending sales and 41 homes are under contract).  Additionally, 23 homes have sold/closed escrow in the first 8 days of November at an average sales price of $1,816,457.

To read last month’s report on Palos Verdes Real Estate sales, click here.

Chart courtesy of Trendgraphix, Inc.