So how long IS it taking to sell a Palos Verdes home?

Most agents are trained to give you what the “average days on market” are but that really is a misleading statistic.  What you REALLY need to know as a seller is how many days of unsold inventory are there on the market?

Ask the real estate agent you’re planning to interview for the very serious job of selling your home this question, “Assuming no other listings came on the market, how many days would it take the market to absorb existing supplies?”  See if their eyes glaze over … if they do, find another agent … because not only do you want to get an understanding of what you’re up against when planning your next transition from your current home in Palos Verdes, but you also want to know the statistical probability, given what the current absorption number is, for selling in the next 30 days, 60 days, 90 days etc.

For example, did you know that right now, there are 224 days of unsold inventory for Palos Verdes real estate?  That’s a lot of days, but better than the 293 days for the same time period last year.

Given this 224 days of unsold inventory then, here are your chances of selling.  These are calculations based on a standard deviation analysis of the absorption rate

What are my chances of selling in…

So now that you know the realities of the market and if you’re a seller and you absolutely have to have, not a 19.30% chance of selling in 90 days but at least an 80% chance of selling … what do you think has to happen?  Would love to read your comments!

To view the latest suppy/demand trends please go here: Palos Verdes Real Estate Transaction Report