Palos Verdes Real Estate Sales May 2017 For Palos Verdes Homes

Palos Verdes real estate sales May 2017 for Palos Verdes homes increased significantly compared to April.  76 Palos Verdes houses sold in May which is an increase from the 48 homes sold in April and about the same as the the 75 homes that sold in May 2016.  There were 91 Palos Verdes single family homes pending in May which increased from the 78 homes pending in April.  The number of active Palos Verdes homes for sale in May (209) was an increase from the 187 homes for sale in April.

Average sales price for Palos Verdes homes sold in May decreased to $1,754,000 from $1,789,000 in April and increased from the $1,673,000 in May 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in May decreased to $618 from $636 in April.  Average days on market in May decreased significantly to 36 days from the 54 days in April.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.8 months in May for Palos Verdes homes for sale compared to 3.9 months in April.  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 212 single family Palos Verdes homes for sale.  124 Palos Verdes houses are in escrow (63 homes have pending sales and 61 homes are under contract).  Additionally, 31 homes have sold/closed escrow in the first 9 days of May with an average sales price of $1,856,435.

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

Chart courtesy of Trendgraphix, Inc.