Palos Verdes Real Estate Sales November 2018 For Palos Verdes Homes
Palos Verdes real estate sales November 2018 for Palos Verdes homes decreased compared to October. 36 Palos Verdes houses sold in November compared to the 57 homes sold in October and decreased compared to the 39 homes that sold in November 2017. There were 39 Palos Verdes single family homes pending in November which decreased from the 53 homes pending in October. The number of active Palos Verdes homes for sale in November (202) was just about the same as the 203 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $1,778,000 from $1,944,000 in October and decreased from the $1,794,000 in November 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in November increased to $637 from October ($595). Average days on market in November increased to 56 days from 36 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 5.6 months in November for Palos Verdes homes for sale compared to 3.6 months in October. A “normal” market is considered 6 months of inventory. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 184 single family Palos Verdes homes for sale. 50 Palos Verdes houses are in escrow (21 homes have pending sales and 29 homes are under contract). Additionally, 10 homes have sold/closed escrow in the first 7 days of December with an average sales price of $1,734,825.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
