Palos Verdes Real Estate Sales September 2019 For Palos Verdes Homes
Palos Verdes real estate sales September 2019 for Palos Verdes homes decreased compared to August. 53 Palos Verdes houses sold in September compared to the 74 homes sold in August and increased compared to the 39 homes that sold in September 2018. There were 68 Palos Verdes single family homes pending in September which increased from the 62 homes pending in August. The number of active Palos Verdes homes for sale in September (235) decreased from the 242 homes for sale in August.
Average sales price for Palos Verdes homes sold in September decreased to $1,663,000 from $1,781,000 in August and decreased from the $1,867,000 in September 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in September increased to $640 from August ($626). Average days on market in September decreased to 42 days from 49 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 4.4 months in September for Palos Verdes homes for sale compared to 3.3 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 227 single family Palos Verdes homes for sale. 91 Palos Verdes houses are in escrow (50 homes have pending sales and 41 homes are under contract). Additionally, 16 homes have sold/closed escrow in the first 10 days of October with an average sales price of $1,922,744.
To read August’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.