Maureen Megowan's Blog

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Palos Verdes 4th Qtr. 2014 Home Real Estate Market Report

The inventory of unsold single family homes on the Palos Verdes Peninsula as of the end of December of 144 units is up approx. 53% compared to this time a year ago. The average number of sales per month over the last 3 months of 52 units per month is up 4% compared to a year ago. There are 46 units in escrow at the end of December.

 

 

 

The average price per square foot of homes sold on the Palos Verdes Peninsula over the last 3 months of $586 per sq. ft. is up approx. 10% compared to the similar period last year.

 

The average days on market to sell a home on the Palos Verdes Peninsula has been approx. 2 to 3 months recently. Homes are currently selling at an average of 93% of list price.

With 144 units for sale at the end of December and the average monthly sales over the last 3 months of 52 units sold equates to about 3 months of inventory.

The average list price for a home on the Palos Verdes Peninsula is approx. $3.0 million. The Average sold price of $1.8 million over the last 3 months, however, is up 20% compared to the prior years comparable 3 months . There continues to be a wide gap in the average list price and the average sold price, indicating that the lower priced homes are selling at a quicker pace.

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 • January 10 2015 02:22PM

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