Palos Verdes Real Estate Sales December 2016 For Palos Verdes Homes

Palos Verdes real estate sales December 2016 for Palos Verdes homes increased compared to November.  66 Palos Verdes houses sold in December which is an increase from the 53 homes sold in November and an increase from the the 59 homes that sold in December 2015.  There were 48 Palos Verdes single family homes pending in December which decreased from the 51 homes pending in November.  The number of active Palos Verdes homes for sale in December (130) decreased from the 166 homes for sale in November.

Average sales price for Palos Verdes homes sold in December increased to $1,738,000 from $1,698,000 in November and increased from the $1,546,000 in December 2015.  Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $634 from $614 in November.  Average days on market in December decreased to 59 days from the 86 days in November.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2 months in December for Palos Verdes homes for sale compared to 3.1 months in November.  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 124 single family Palos Verdes homes for sale.  67 Palos Verdes houses are in escrow (28 homes have pending sales and 39 homes are under contract).  Additionally, 6 homes have sold/closed escrow in the first 9 days of January at an average sales price of $1,555,333.

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

Chart courtesy of Trendgraphix, Inc.