Palos Verdes Real Estate Sales July 2017 For Palos Verdes Homes

Palos Verdes real estate sales July 2017 for Palos Verdes homes decreased compared to June.  78 Palos Verdes houses sold in July which decreased from the 92 homes sold in June and increases from the the 68 homes that sold in July 2016.  There were 79 Palos Verdes single family homes pending in July which increased from the 73 homes pending in June.  The number of active Palos Verdes homes for sale in July (220) decreased from the 225 homes for sale in June.

Average sales price for Palos Verdes homes sold in July increased to $1,813,000 from $1,693,000 in June and from the $1,688,000 in July 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in July increased to $642 from June ($616).  Average days on market in July increased to 37 days from the 30 days in June.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 2.8 months in July for Palos Verdes homes for sale compared to 2.4 months in June.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is 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 214 single family Palos Verdes homes for sale.  102 Palos Verdes houses are in escrow (48 homes have pending sales and 54 homes are under contract).  Additionally, 11 homes have sold/closed escrow in the first 10 days of August.

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

Chart courtesy of Trendgraphix, Inc.