The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of October of 153 properties is approx. the same as the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market had been improving and the average number of homes sold per month of 61 over the last 3 months is about 5% higher than the comparable period last year, however only 49 home sales closed in October . Pending sales in escrow have slowed down considerably as well, with only 45 homes in escrow at the end of October, forecasting weaker sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. Make sure to scroll down to see the full report.
Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 153 148 3.4%

153 152 0.7%

149 164 -9.1%

Sold 49 67 -26.9%

49 55 -10.9%

61 58 5.2%

Pended 45 61 -26.2%

45 66 -31.8%

60 57 5.3%

The average price per sq. ft. for homes sold over the last 3 months of $534 per sq. ft. is up 13% from the same compared to the comparable period last year and has been trending up over the last 8 months.
Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 537.5 549.9 -2.2%

537.5 501.3 7.2%

534.4 472.6 13.1%

Based on the average monthly sales of 61 homes over the last 3 months, the current inventory of 153 homes for sale equates to just a bit over a 2 months inventory, which historically is extremely low. Based upon the low amount of sales in October of only 49 homes, however, this indicates an inventory of approx. 3 months sales.

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.4 million, up approx. 7% compared to the average price of homes sold in the comparable period last year. The average listing price for homes during the last 3 months of $2.7 million is up approx. 17% over the comparable period last year. These statistics show that lower priced homes are selling faster than the higher priced homes.

Oct. 13 Sep. 13 Curnt vs. Prev Month % Change Oct. 13 Oct. 12 Curnt vs. Same Month 1 Yr Ago % Change Aug. 13 to Oct. 13 Aug. 12 to Oct. 12 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Active Price 2748 2795 -1.7%

2748 2354 16.7%

2715 2325 16.8%

Avg. Sold Price 1380 1458 -5.3%

1380 1322 4.4%

1440 1341 7.4%

Days on Market to sell a property has been averaging approx. 2 months and properties are selling at approx. 96% of original list price.
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.