Palos Verdes real estate sales November 2019 for Palos Verdes homes increased compared to October. 61 Palos Verdes houses sold in November compared to the 50 homes sold in October and increased compared to the 36 homes that sold in November 2018. There were 60 Palos Verdes single family homes pending in November which decreased from the 66 homes pending in October. The number of active Palos Verdes homes for sale in November (179) decreased from the 201 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $1,647,000 compared to $1,663,000 in October, and decreased from the $1,778,000 in November 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $616 from October ($657). Average days on market in November decreased to 46 days from 68 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.9 months in November for Palos Verdes homes for sale compared to 4 months in October. 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 170 single family Palos Verdes homes for sale. 83 Palos Verdes houses are in escrow (49 homes have pending sales and 34 homes are active under contract). Additionally, 14 homes have sold/closed escrow in the first 9 days of December.
To read October’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.