Palos Verdes Real Estate Sales December 2018 For Palos Verdes Homes

Average sales price for Palos Verdes homes sold in December increased to $1,900,000 from $1,778,000 in November and increased from the $1,853,000 in December 2017.  Price per square foot for Palos Verdes houses that sold/closed escrow in December decreased to $611 from November ($637).  Average days on market in December increased to 66 days from 56 days in November.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.6 months in December for Palos Verdes homes for sale compared to 5.6 months in November.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the high demand for Palos Verdes homes.  Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 150 single family Palos Verdes homes for sale. 41 Palos Verdes houses are in escrow (19 homes have pending sales and 22 homes are under contract).  Additionally, 6 homes have sold/closed escrow in the first 10 days of January with an average sales price of $3,562,500 (one sale was for $14,100,000.

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

Chart courtesy of Trendgraphix, Inc.