Palos Verdes Real Estate Sales September 2017 For Palos Verdes Homes

Palos Verdes real estate sales September 2017 for Palos Verdes homes increased compared to August.  67 Palos Verdes houses sold in September which increased from the 62 homes sold in August and increased from the the 38 homes that sold in September 2016.  There were 65 Palos Verdes single family homes pending in September which decreased from the 68 homes pending in August.  The number of active Palos Verdes homes for sale in September (189) decreased from the 194 homes for sale in August.

Average sales price for Palos Verdes homes sold in September decreased to $1,560,000 from $1,693,000 in August and increased from the $1,488,000 in September 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in September increased to $632 from August ($602).  Average days on market in September increased to 44 days from 40 days in August.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.8 months in September for Palos Verdes homes for sale compared to 3.1 months in August.  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 191 single family Palos Verdes homes for sale.  82 Palos Verdes houses are in escrow (42 homes have pending sales and 40 homes are under contract).  Additionally, 10 homes have sold/closed escrow in the first 6 days of September.

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

Chart courtesy of Trendgraphix, Inc.