Palos Verdes Real Estate Sales September 2018 For Palos Verdes Homes
Palos Verdes real estate sales September 2018 for Palos Verdes homes decreased compared to August. 39 Palos Verdes houses sold in September compared to the 65 homes sold in August and decreased compared to the 67 homes that sold in September 2017. There were 45 Palos Verdes single family homes pending in September which decreased from the 60 homes pending in August. The number of active Palos Verdes homes for sale in September (226) decreased from the 229 homes for sale in August.
Average sales price for Palos Verdes homes sold in September increased to $1,867,000 from $1,778,000 in August and increased from the $1,560,000 in September 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in September increased to $652 from August ($648). Average days on market in September increased to 50 days from 35 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 5.8 months in September for Palos Verdes homes for sale compared to 3.5 months in August. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is slightly lower. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 238 single family Palos Verdes homes for sale. 65 Palos Verdes houses are in escrow (34 homes have pending sales and 31 homes are under contract). Additionally, 13 homes have sold/closed escrow in the first 9 days of September.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
