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Palos Verdes Peninsula ( All Cities ) August 2014 single family real estate market report

The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of August of 218 properties is 48% greater than the same time last year, however the average number of homes sold per month of 69 over the last 3 months is the same as the comparable period last year. Pending sales in escrow has been level with 70 homes in escrow at the end of August, forecasting continuing steady 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.

 
 
 
 
 
 
 
       
  Aug. 14 Jul. 14 Curnt vs. Prev Month % Change Aug. 14 Aug. 13 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
For Sale 218 231 -5.6% 218 147 48.3% 217 150 44.7%
Sold 67 87 -23% 67 66 1.5% 69 69 0%
Pended 70 57 22.8% 70 75 -6.7% 70 69 1.4%
 
The average price per sq. ft. for homes sold over the last 3 months of $568 per sq. ft. is up 8% from the same compared to the comparable period last year. Price per sq. ft. has been generally level over the last 5 months but increased significantly in August.
 
 
 
 
 
 
 
 
 
 
       
  Aug. 14 Jul. 14 Curnt vs. Prev Month % Change Aug. 14 Aug. 13 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. Sq. Ft. Price 606.8 552.8 9.8% 606.8 517.5 17.3% 567.5 523.9 8.3%

 

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.

 
 
 
 
 

 

       
  Aug. 14 Jul. 14 Curnt vs. Prev Month % Change Aug. 14 Aug. 13 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 2779 2722 2.1% 2779 2600 6.9% 2806 2703 3.8%
Avg. Sold Price 1649 1550 6.4% 1649 1477 11.6% 1619 1468 10.3%
 
 
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.

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 • September 11 2014 11:35AM

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