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Palos Verdes Peninsula ( All Cities ) November 2013 single family real estate market report

The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of November of 129 properties is approx. the same as the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market had been improving and the average number of homes sold per month of 58 over the last 3 months is about 7%. Pending sales in escrow have slowed down considerably however, with only 43 homes in escrow at the end of November, forecasting weaker sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.
 
 
 
 
 
 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 129 153 -15.7% 129 130 -0.8% 143 151 -5.3%
Sold 56 49 14.3% 56 50 12% 58 54 7.4%
Pended 43 46 -6.5% 43 59 -27.1% 50 60 -16.7%
 
The average price per sq. ft. for homes sold over the last 3 months of $537 per sq. ft. is up 11% from the same compared to the comparable period last year .
 
 
 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 521.3 537.5 -3% 521.3 483.4 7.8% 536.7 483.3 11%
 
 
 
 
 
Based on the average monthly sales of 58 homes over the last 3 months, the current inventory of 129 homes for sale equates to just a bit over a 2 months inventory, which historically is extremely low.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.5 million, up approx. 9% 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 $2.8 million is up approx. 17% over the comparable period last year. These statistics show that lower priced homes are selling faster than the higher priced homes.

 
       
  Nov. 13 Oct. 13 Curnt vs. Prev Month % Change Nov. 13 Nov. 12 Curnt vs. Same Month 1 Yr Ago % Change Sep. 13 to Nov. 13 Sep. 12 to Nov. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2906 2748 5.7% 2906 2599 11.8% 2812 2408 16.8%
Avg. Sold Price 1456 1380 5.5% 1456 1290 12.9% 1431 1316 8.7%
 
 
 
 
 

Days on Market to sell a property has been averaging approx. 2 months and properties are selling at approx. 96% of original list price.

For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.

 

 

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 0 commentsMaureen Megowan • December 18 2013 01:56PM

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