The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of October of 202 properties is 7% higher than the same time last year, and the average number of homes sold per month of 63 over the last 3 months is 1% higher than the comparable period last year. There are 58 homes in escrow at the end of October.
The average price per sq. ft. for homes sold over the last 3 months of $601 per sq. ft. is down 3% from the same compared to the comparable period last year.
The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.8 million, down about 2% 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 7% less than the comparable period last year. These statistics show that lower priced homes are selling faster than the higher priced homes.
Days on Market to sell a property has been averaging a bit more than 2 months, and properties are selling at approx. 95% of original list price.