Palos Verdes real estate sales June 2018 for Palos Verdes homes increased compared to May. 82 Palos Verdes houses sold in June compared to the 63 homes sold in May and decreased compared to the 93 homes that sold in June 2017. There were 78 Palos Verdes single family homes pending in June which increased from the 68 homes pending in May. The number of active Palos Verdes homes for sale in June (225) increased from the 190 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $2,025,000 from $1,924,000 in May and increased from the $1,739,000 in June 2017. Price per square foot for Palos Verdes houses that sold/closed escrow in June decreased to $635 from May ($683). Average days on market in June increased to 54 days from 37 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.7 months in June for Palos Verdes homes for sale compared to 3 months in May. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower 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 196 single family Palos Verdes homes for sale. 82 Palos Verdes houses are in escrow (45 homes have pending sales and 37 homes are under contract). Additionally, 9 homes have sold/closed escrow in the first 9 days of July with an average sales price of $1,966,778.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Originally posted to Elaine Carlson's real estate blog PalosVerdesSource.com.
Chart courtesy of Trendgraphix, Inc.