Palos Verdes real estate sales August 2019 for Palos Verdes homes decreased compared to July. 73 Palos Verdes houses sold in August compared to the 76 homes sold in July and increased compared to the 65 homes that sold in August 2018. There were 74 Palos Verdes single family homes pending in August which increased from the 68 homes pending in July. The number of active Palos Verdes homes for sale in August (242) decreased from the 264 homes for sale in July.
Average sales price for Palos Verdes homes sold in August decreased to $1,791,000 from $1,885,000 in July and increased from the $1,778,000 in August 2018. Price per square foot for Palos Verdes houses that sold/closed escrow in August decreased to $627 from July ($653). Average days on market in August decreased to 48 days from 53 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 3.3 months in August for Palos Verdes homes for sale compared to 3.5 months in July. 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 231 single family Palos Verdes homes for sale. 84 Palos Verdes houses are in escrow (37 homes have pending sales and 47 homes are under contract). Additionally, 15 homes have sold/closed escrow in the first 8 days of September.
To read June’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.