Palos Verdes Real Estate Sales June 2017 For Palos Verdes Homes

Palos Verdes real estate sales June 2017 for Palos Verdes homes increased significantly compared to May.  91 Palos Verdes houses sold in June which is an increase from the 76 homes sold in May and an increase from the the 82 homes that sold in June 2016.  There were 78 Palos Verdes single family homes pending in June which decreased from the 86 homes pending in May.  The number of active Palos Verdes homes for sale in June (225) increased from the 209 homes for sale in May.

Average sales price for Palos Verdes homes sold in June decreased to $1,700,000 from $1,754,000 in May and from the $1,792,000 in June 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in June ($617) was just about the same as May ($618).  Average days on market in June decreased to 30 days from the 36 days in May.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.5 months in June for Palos Verdes homes for sale compared to 2.8 months in May.  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 237 single family Palos Verdes homes for sale.  102 Palos Verdes houses are in escrow (60 homes have pending sales and 42 homes are under contract).  Additionally, 22 homes have sold/closed escrow in the first 10 days of July with an average sales price of $1,987,491.

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

Chart courtesy of Trendgraphix, Inc.