The average number of properties listed for sale for the overall Palos Verdes Peninsula at the end of January is approx. 50% lower than the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 52 over the last 3 months is about 18% higher than the comparable period last year . Pending sales in escrow have been strong , with 66 homes in escrow at the end of January, forecating continuing strong sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula.
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The average price per sq. ft. for homes sold over the last 3 months of $481 per sq. ft. is up 5% from the same compared to the comparable period last year.
Based on the average monthly sales of 52 homes over the last 3 months, the current inventory of 95 homes for sale equates to less than a 2 months inventory
The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.3 million, down approx. 3% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $2.7 million has been rising steadily over the last 9 months and shows that the lower priced homes are selling faster than the higher priced homes.
Days on Market to sell a property has been averaging approx. 2 to 3 months, but has increased a bit over the last three months, and properties are selling at approx. 94% of original list price.