Palos Verdes Real Estate Sales October 2019 For Palos Verdes Homes
Palos Verdes real estate sales October 2019 for Palos Verdes homes decreased compared to September. 50 Palos Verdes houses sold in October compared to the 53 homes sold in September and decreased compared to the 57 homes that sold in October 2018. There were 73 Palos Verdes single family homes pending in October which increased from the 60 homes pending in September. The number of active Palos Verdes homes for sale in October (201) decreased from the 235 homes for sale in September.
Average sales price for Palos Verdes homes sold in October was exactly the same as September, $1,663,000, and decreased from the $1,944,000 in October 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in October increased to $657 from September ($640). Average days on market in October increased to 68 days from 42 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 4 months in October for Palos Verdes homes for sale compared to 4.4 months in September. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the continuing demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 203 single family Palos Verdes homes for sale. 91 Palos Verdes houses are in escrow (49 homes have pending sales and 42 homes are active under contract). Additionally, 19 homes have sold/closed escrow in the first 7 days of November.
To read September’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.