Real Estate Market Watch: Rancho Palos Verdes – November 2017

The numbers are in for November!

As a whole, RPV Single Family Residences (SFR) sales went from 38 in October to 18 in November, while average sale price increased to over $1.53M from $1.44M in October. Days on market stayed the same at 38. Inventory is still not enough to keep up with demand, which is reflected in the increase in average price.

Condominium and Townhouse sales increased slightly to 9 units sold in November compared to only 8 in October. Average sale price saw a significant decrease to $722k in November compared to $821k in October. However, recall that the numbers for condos and townhouses were slightly skewed in October due to a sale in Terranea that was on the market for 500+ days and sold for $2.2M. Accordingly, days on market decreased to 37 days in November compared to 84 in October.

 

 

 

 

 

Eastview specifically had only 2 sales for the month of November, marking the 3rd straight month with less than 10 units sold.

 

As we mentioned previously, this time of year things tend to slow down a bit. I expect to see similar numbers for the remainder of the year due to the holidays, but 2018 will be another great year to be a seller!

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