Palos Verdes Real Estate Sales April 2014 For Palos Verdes Homes

Palos Verdes Real Estate Sales April 2014 For Palos Verdes Homes

Palos Verdes real estate sales for April 2014 for Palos Verdes homes indicates an increase in sales compared to March.  50 Palos Verdes houses sold in April which increased from the 47 homes sold in March and decreased from the 63 homes that sold in April 2013.  There were 62 Palos Verdes single family homes pending in April which was exactly the same as in March.  The number of active Palos Verdes homes for sale in April increased to 156 homes from 143 homes in March.

Average sales price for Palos Verdes homes sold in April decreased to $1,463,000 from $1,601,000 in March and increased from $1,397,000 in April 2013.  Price per square foot for Palos Verdes houses that sold/closed escrow in April also decreased to $551 from $588 in March.   Average days on market in April was 49 days which is a significant decrease from 68 days in March.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased slightly to 3.1 months in April for Palos Verdes homes for sale compared to 3.0 months in March.  A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is half of that indicating the continuing high demand for Palos Verdes homes.   Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 168 single family Palos Verdes homes for sale.  105 Palos Verdes houses are in escrow (45 homes have pending sales and 60 homes are accepting backup offers).  Additionally, 13 homes have sold/closed escrow in the first 12 days of May.

To read last month's report on Palos Verdes Real Estate sales, click here.

Originally posted to Elaine Carlson's real estate blog at www.PalosVerdesSource.com

Chart courtesy of Trendgraphix, Inc.