The following is a list of the 19 homes sold in the City of Palos Verdes Estates during the month of July 2016:
The average price per square foot over the last 3 months has been $770 per sq. ft. an 8% increase over the similar period last year.
The average days on market for homes sold during last 3 months was about 2 to 3 months. The percentage of list price for homes sold is approx. 95%.
The average list price of homes for sale at the end of July is approx. $3.8 million. This is about 11% higher than a year ago. The average sold price of approx. $2.3 million during the last three months is 7% higher than the comparable 3 months last year but fluctuates widely during the year depending on the size of the home sold.
With 66 homes listed for sale at the end of July and average sales per month over the last 3 months of 18 homes sold, equates to 3-4 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.