There are 58 homes listed for sale in the City of Palos Verdes Estates at the end of September, which is 10% higher than this time a year ago. The number of homes sold over the last 3 months, averaging 15 sales per month, is down 15% compared to the same period last year, with only 8 homes sold in September however . This equates to almost 4 months of inventory, based on the average sales per month over the last 3 months. There are 19 homes in escrow at the end of September.
The following is a list of the 8 homes sold in the City of Palos Verdes Estates during the month of September 2016:
The average price per square foot over the last 3 months has been $755 per sq. ft. a 4% increase over the similar period last year.
The average days on market for homes sold during last 3 months was about 3 months. The percentage of list price for homes sold is approx. 92%.
The average list price of homes for sale at the end of September is approx. $3.8 million. This is about an 8% increase a year ago. The average sold price of approx. $2.5 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 58 homes listed for sale at the end of September and average sales per month over the last 3 months of 15 homes sold, equates to about 4 months of inventory. The following chart of months of inventory is based upon the most recent month's sales of only 8 homes (but there are 19 homes in escrow at the end of September).
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.
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