The number of homes listed for sale in the City of Palos Verdes Estates during 2011 has been relatively steady, averaging 78 homes. The average number of homes sold per month during this same period has also been very steady, averaging 15 sales per month, however the average monthly number of homes sold during the last quarter was down to 12. This equates to approx. 7 months of inventory.
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The average price per square foot over the last 3 months has been $503 per sq. ft., a decrease of 4% over the comparable period last year. The overall market appears to have stabalized. This market has not been nearly as impacted by the foreclosure sales which have severely affected inland markets.
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