The average single-family home price was $1.36 million for the first quarter of 2010 as compared to $1.25 million in the first quarter of 2009, and increase of 9.1 percent. The median price of a single-family home in Palos Verdeswas $1.15 million in the first quarter of 2010 as to $1.05 million in the first quarter of 2009 - a 9.2 percent increase.
The average condominium prices increased to $525,000 as compared to $469,000 in 2009 - a 12.8 percent increase. The number of condominium and townhome sales in the first quarter were down 37.5 percent, with 10 sales in 2010 compared to 16 in 2009. The dollar -per-square-foot figure in the first quarter was $378 in 2010 ans $367 in 2009 - a 3 percent increase.
The number of single family homes sold in Palos Verdes was up 87 percent in the first quarter of 2010 compared to that same period in 2009. The average dollar-per-square-foot figure for single family homes sold in the first quarter was almost even: $492 in 2010 versus $494 in 2009.
According to the Palos Verdes Association of Realtors, in the month of April of 2010 pending sales are double what there were in April 2009, while the inventory is down 32 percent. In April of this year there was a 4.38 month supply of inventory compared to a 10.78 month supply in April of 2009.
These housing statistics were compiled by the Palos Verdes Association of Realtors using data maintained by the Multi-Regional Multiple Listing Service, Inc.
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