Palos Verdes 2nd Qtr. 2014 Home Real Estate Market Report

The inventory of unsold single family homes on the Palos Verdes Peninsula of 201 units is up approx. 30% compared to this time a year ago. The average number of sales per month over the last 3 months of 55 units per month is down 14% compared to a year ago. There are 87 units in escrow at the end of June, however.Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula.

The average price per square foot of homes sold on the Palos Verdes Peninsula over the last 3 months of $547 per sq. ft. is up approx. 5% compared to the similar period last year.

The average days on market to sell a home on the Palos Verdes Peninsula has been approx. 2 to 3 months recently. Homes are currently selling at an average of 95% of list price.

With 201 units for sale at the end of June and the average monthly sales over the last 3 months of 55 units sold equates to about 4 months of inventory.

The average list price for a home on the Palos Verdes Peninsula is approx. $3.0 million. The Average sold price of $1.6 million over the last 3 months, however, is up 13% compared to the prior years comparable 3 months . There continues to be a wide gap in the average list price and the average sold price, indicating that the lower priced homes are selling at a quicker pace.

For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website at http://www.maureenmegowan.com .

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
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