Palos Verdes Real Estate Sales January 2017 For Palos Verdes Homes

Palos Verdes real estate sales January 2017 for Palos Verdes homes decreased compared to December.  40 Palos Verdes houses sold in January which is a decrease from the 66 homes sold in December and an increase from the the 31 homes that sold in January 2016.  There were 48 Palos Verdes single family homes pending in January which increased from the 43 homes pending in December.  The number of active Palos Verdes homes for sale in January (131) was just about the same as the 130 homes for sale in December.

Average sales price for Palos Verdes homes sold in January increased to $1,795,000 from $1,738,000 in December and from the $1,509,000 in January 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in January decreased to $597 from $634 in December.  Average days on market in January increased to 78 days from the 59 days in December.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.3 months in January for Palos Verdes homes for sale compared to 2 months in December.  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 133 single family Palos Verdes homes for sale.  71 Palos Verdes houses are in escrow (33 homes have pending sales and 38 homes are under contract).  Additionally, 13 homes have sold/closed escrow in the first 9 days of February at an average sales price of $2,210,492.

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

Chart courtesy of Trendgraphix, Inc.