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 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.