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Palos Verdes 1st quarter 2018 Condo and Townhome Real Estate Market Report
The inventory of unsold condos and townhomes on the Palos Verdes Peninsula of 20 units at the end of March is down approx. 37% compared to this time a year ago. The average number of sales per month over the last 3 months of 10 units per month down approx. 24% compared to a year ago however. There are 17 units in escrow at the end of March, however.
The average price per square foot of condos and townhomes sold on the Palos Verdes Peninsula over the last 3 months of $500 per sq. ft. is up 12% 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 20 units for sale at the end of March and the average monthly sales over the last 3 months of 10 units sold equates to 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 unit carefully reviews the financial condition of the homeowners ... more
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