Palos Verdes Real Estate Sales November 2017 For Palos Verdes Homes

Palos Verdes real estate sales November 2017 for Palos Verdes homes decreased compared to October.  38 Palos Verdes houses sold in November which decreased from the 52 homes sold in October and decreased from the the 53 homes that sold in November 2016.  There were 52 Palos Verdes single family homes pending in November which increased from the 42 homes pending in October.  The number of active Palos Verdes homes for sale in November (152) decreased from the 183 homes for sale in October.

Average sales price for Palos Verdes homes sold in November increased to $1,796,000 from $1,630,000 in October and increased from the $1,698,000 in November 2016.  Price per square foot for Palos Verdes houses that sold/closed escrow in November increased to $669 from October ($590).  Average days on market in November increased to 52 days from 42 days in October.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 4 months in November for Palos Verdes homes for sale compared to 3.5 months in October.  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 147 single family Palos Verdes homes for sale.  62 Palos Verdes houses are in escrow (28 homes have pending sales and 34 homes are under contract).  Additionally, 18 homes have sold/closed escrow in the first 8 days of November with an average sales price of $1,827,264.

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

Chart courtesy of Trendgraphix, Inc.