There are 56 homes listed for sale in the City of Palos Verdes Estates at the end of September, which is 3% less than this time a year ago. The number of homes sold over the last 3 months, averaging 17 sales per month, is 18% higher compared to the same period last year . This equates to a bit over 3 months of inventory, based on the average sales per month over the last 3 months. There are 11 homes in escrow at the end of September showing weakening sales activity.
The following are the 52 properties sold in Palos Verdes Estates during the 3rd quarter of 2017:
The average price per square foot over the last 3 months has been $726 per sq. ft. a 4% decrease over the similar period last year.
The average days on market for homes sold during last 3 months was about 1 to 2 months. The percentage of list price for homes sold is approx. 96%.
The average list price of homes for sale at the end of September is approx. $4.0 million. This is about a 6% increase from a year ago. The average sold price of approx. $2.2 million during the last three months is 10% lower than the comparable 3 months last year .
With 56 homes listed for sale at the end of September and average sales per month over the last 3 months of 17 homes sold, equates to a bit over 3 months of inventory. The following chart of months of inventory is based upon the most recent month’s sales.
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.
For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at https://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.
