Based on the average monthly sales of 69 homes over the last 3 months, the current inventory of 218 homes for sale equates to between a bit over 3 months inventory, which historically is still extremely low. The chart below is based upon the most recent months sales.
The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.6 million, up approx. 10% 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. 4% over the comparable period last year .These statistics show that lower priced homes are selling faster than the higher priced homes.
||Curnt vs. Prev Month % Change
||Curnt vs. Same Month 1 Yr Ago % Change
||Jun. 14 to Aug. 14
||Jun. 13 to Aug. 13
||Curnt vs. Same Qtr 1 Yr Ago % Change
|Avg. Active Price
|Avg. Sold Price
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 web site.