Palos Verdes Real Estate Sales August 2017 For Palos Verdes Homes

Palos Verdes real estate sales August 2017 for Palos Verdes homes decreased compared to July.  62 Palos Verdes houses sold in August which decreased from the 78 homes sold in July and decreased from the the 65 homes that sold in August 2016.  There were 84 Palos Verdes single family homes pending in August which increased from the 66 homes pending in July.  The number of active Palos Verdes homes for sale in August (194) decreased from the 220 homes for sale in July.

Average sales price for Palos Verdes homes sold in August decreased to $1,693,000 from $1,813,000 in July and from the $1,747,000 in August 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in August decreased to $602 from July ($642).  Average days on market in August increased to 40 days from the 37 days in July.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.1 months in August for Palos Verdes homes for sale compared to 2.8 months in July.  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 189 single family Palos Verdes homes for sale.  102 Palos Verdes houses are in escrow (49 homes have pending sales and 53 homes are under contract).  Additionally, 7 homes have sold/closed escrow in the first 7 days of August.

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

Chart courtesy of Trendgraphix, Inc.