Summary: The number of condos and townhomes listed for sale on the Palos Verdes Peninsula at the end of June is 32% higher than at this time last year and the number of homes sold during the last three months is down 8% compared to the prior year, resulting in unsold inventory of 3 months supply. Prices of $495 per square foot are up approx. 3% compared to the prior year’s quarterly average. Lower priced homes are moving faster than the upper end of the market. Condos and townhomes taking only approx. 1 month to sell.
The inventory of unsold condos and townhomes on the Palos Verdes Peninsula of 45 units at the end of June is 32% higher that at the same time a year ago. The average number of sales per month over the last 3 months of 15 units per month down approx. 8% compared to a year ago however. There are 18 units in escrow at the end of June.

The average price per square foot of condos and townhomes sold on the Palos Verdes Peninsula over the last 3 months of $495 per sq. ft. is up 3% 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  month recently. Condos and townhomes are currently selling at an average of 99% of list price.
With 45 units for sale at the end of June and the average monthly sales over the last 3 months of 15 units sold equates to 3 months of inventory. The chart below is based upon the most recent months sales of only 10 units.
The average list price over the last 3 months for a condo or townhome on the Palos Verdes Peninsula of $913,000 has increased approx. 2% over this time last year. The Average sold price of $730,000 over the last 3 months is the same compared to the prior years comparable 3 months.
For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.