Maureen Megowan's Blog

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Palos Verdes Peninsula ( All Cities ) November 2015 single family real estate market report

The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of November of 168 properties is 1% lower than the same time last year, and the average number of homes sold per month of 57 over the last 3 months is 3% higher than the comparable period last year. There are 57 homes in escrow at the end of November.

The average price per sq. ft. for homes sold over the last 3 months of $592 per sq. ft. is down 3% from the same compared to the comparable period last year. 
 
Based on the average monthly sales of 57 homes over the last 3 months, the current inventory of 168 homes for sale equates to a bit less than 3 months inventory, which historically is 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 $1.7 million, down about 11% 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 $2.7 million is 6% less than 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. 94% 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 2 commentsMaureen Megowan • December 12 2015 02:43PM

Comments

Maureen,
I’m glad to see the Palos Verdes Peninsula market continuing to do well. It is such a special location in SoCal.

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

Great Information. A valuable market report for buyers and sellers in your community!

Posted by Bob Baesmann, DFW Team Realty | 972-978-8800 ( DFW Team Realty) almost 3 years ago

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