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Palos Verdes December 2016 Condo and Townhome Real Estate Market Report
The inventory of unsold condos and townhomes on the Palos Verdes Peninsula of 33 units at the end of December is up approx. 44% compared to this time a year ago. The average number of sales per month over the last 3 months of 15 units per month is up approx. 45% compared to a year ago however. There are 19 units in escrow at the end of December.  
The average price per square foot of condos and townhomes sold on the Palos Verdes Peninsula over the last 3 months of $462 per sq. ft. is up about 10% over the similar period last year.     The average days on market to sell a condo or townhome on the Palos Verdes Peninsula has been approx. 1 to 2 months recently. Condos and townhomes are currently selling at an average of 98% of list price.   With 33 units for sale at the end of December and the average monthly sales over the last 3 months of 15 units sold equates to just a bit over 2 months of inventory. The chart below is based upon the most recent months sales.      
It is imperative that a buyer of a condo or townhome ... more

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