The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of August of 204 properties is 6% lower than the same time last year, however the average number of homes sold per month of 74 over the last 3 months is 7% higher than the comparable period last year. There are 87 homes in escrow at the end of August.
The average price per sq. ft. for homes sold over the last 3 months of $620 per sq. ft. is up 9% from the same compared to the comparable period last year.
The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.9 million, up approx. 15% 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 about the same as the comparable period last year. These statistics show that lower priced homes are selling faster than the higher priced homes.
Days on Market to sell a property has been averaging a bit more than 2 months, and properties are selling at approx. 96% of original list price.
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.