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Health & Fitness

Palos Verdes Peninsula ( All Cities ) August 2013 single family real estate market report

The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of August of 147 properties is approx. 14% lower than the same time last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 69 over the last 3 months is about 17% higher than the comparable period last year . Pending sales in escrow have been strong , with 78 homes in escrow at the end of August, forecasting continuing strong sales over the next two months. Click Here for a search for all homes listed for sale on the Palos Verdes Peninsula. 

The average price per sq. ft. for homes sold over the last 3 months of $524 per sq. ft. is up 11% from the same compared to the comparable period last year and had increased for 5 consecutive months but decreased a bit in August.        

Based on the average monthly sales of 69 homes over the last 3 months, the current inventory of 147 homes for sale equates to just a bit over a 2 months inventory, which historically is extremely low.

 

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged $1.5 million, up approx. 6% 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. 19% over the comparable period last year but has decreased over the last 5 months. These statistics show that lower priced homes are selling faster than the higher priced homes.

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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.

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