Palos Verdes Real Estate Sales April 2017 For Palos Verdes Homes

Palos Verdes real estate sales April 2017 for Palos Verdes homes decreased compared to March.  48 Palos Verdes houses sold in April which is a decrease from the 56 homes sold in March and a decrease from the the 65 homes that sold in April 2016.  There were 83 Palos Verdes single family homes pending in April which increased significantly from the 63 homes pending in March.  The number of active Palos Verdes homes for sale in April (187) was an increase from the 159 homes for sale in March.

Average sales price for Palos Verdes homes sold in April increased to $1,789,000 from $1,782,000 in March and increased from the $1,547,000 in April 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in April decreased to $635 from $671 in March.  Average days on market in April decreased to 54 days from the 60 days in March.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.9 months in April for Palos Verdes homes for sale compared to 2.8 months in March.  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 202 single family Palos Verdes homes for sale.  120 Palos Verdes houses are in escrow (56 homes have pending sales and 64 homes are under contract).  Additionally, 17 homes have sold/closed escrow in the first 8 days of May with an average sales price of $1,871,179.

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

Chart courtesy of Trendgraphix, Inc.