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City of Palos Verdes Estates August 2015 Real Estate Market Report

There are 40 homes listed for sale in the City of Palos Verdes Estates at the end of August, which is 33% less than this time a year ago. The number of homes sold over the last 3 months, averaging 20 sales per month, is up 11% compared to the same period last year . This equates to 2 months of inventory, based on the average sales per month over the last 3 months, historically very low. There are 30  homes in escrow at the end of August. Properly priced homes are often receiving multiple offers in this market. 
 
 
 

The following is a list of the 12 homes sold in the City of Palos Verdes Estates during the month of August 2015:

 

 

The average price per square foot over the last 3 months has been $733 per sq. ft. a 13% increase over the similar period last year.

 
The average days on market for homes sold during last 3 months was about 1 to 2 months. The percentage of list price for homes sold is approx. 98%.
 
 
The average list price of homes for sale at the end of August is approx. $3.8 million. This is 18% higher than a year ago. The average sold price of approx. $2.3 million during the last three months is 18% higher than the comparable 3 months last year but fluctuates widely during the year depending on the size of the home sold. 
 
 
 
With 40 homes listed for sale at the end of August, and average sales per month over the last 3 months of 20 homes sold, equates to 2 months of inventory. The following chart of months of inventory is based upon the most recent month's sales.
 
With the current record low interest rates and the stabilized market, now is an excellent time to purchase a home in Palos Verdes Estates.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 2 commentsMaureen Megowan • September 11 2015 02:08PM

Comments

Good Evening Maureen

Thanks for the post and Palos Verdes market update. Have a great week.

Posted by Patrick White, Driven to bring New Yorkers home (Home Driven Realty, Inc) almost 3 years ago

Maureen,

 

That is a tight market. Agents in slow markets think that would be a dream but I know you are encountering some issues when inventory gets that low and multiple offers are common.

Posted by David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation, Relocation, Luxury & Lifestyle residential (Colorado Real Estate Advisers LLC ) almost 3 years ago

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