Palos Verdes real estate sales December 2019 for Palos Verdes homes decreased compared to November. 56 Palos Verdes houses sold in December compared to the 61 homes sold in November and increased compared to the 43 homes that sold in December 2018. There were 43 Palos Verdes single family homes pending in December which decreased from the 53 homes pending in November. The number of active Palos Verdes homes for sale in December (129) decreased from the 179 homes for sale in November.
Average sales price for Palos Verdes homes sold in December increased to $1,686,000 compared to $1,647,000 in November, and decreased from the $1,900,000 in December 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $627 from November ($616). Average days on market in December increased to 64 days from 46 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.3 months in December for Palos Verdes homes for sale compared to 2.9 months in November. 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 125 single family Palos Verdes homes for sale. 60 Palos Verdes houses are in escrow (27 homes have pending sales and 33 homes are active under contract). Additionally, 11 homes have sold/closed escrow in the first 9 days of January at an average sales price of $2,232,595.
To read November’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.