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Palos Verdes Estates 2nd Quarter 2015 Real Estate Market Report

By
Real Estate Agent with Remax Estate Properties - BRE #01368971
The Palos Verdes Estates real estate market continues to be relatively strong. The number of homes listed for sale at the end of June of 55 is a 13% decrease over this time last year. The average number of homes sold per month during the second quarter 2015 increased 54% compared to last year's first quarter, averaging 20 sales per month. This equates to about less than 3 months of inventory. The number of homes in escrow at the end of June is 23 homes.
 
 
 
 
 
 

The average price per square foot over the last 3 months has been $665 per sq. ft., an increase of approx. 9% over the comparable period last year. 

 
The average days on market for homes sold during the 2nd quarter 2015 was about 2 to 3 months. The percentage of original list price for homes sold is approx. 97%.
 
The average list price of homes for sale increased in June 2015 to approx. $3.4 million. a 2% decrease compared to a year ago. The average sold price of approx. $2.1 million during the 2nd quarter is approx. 24% higher than the comparable quarter last year. Lower priced homes are selling faster than the higher priced homes.
 
 
 
 
 
 
With 55 homes listed for sale at the end of June, and sales averaging 20 homes per month during the 2nd quarter 2015, this equates to less than 3 months of inventory.
 
 
 
 
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 additional Market reports, see Market Reports on my website.

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