Palos Verdes real estate sales January 2020 for Palos Verdes homes decreased compared to December. 40 Palos Verdes houses sold in January compared to the 56 homes sold in December and increased compared to the 18 homes that sold in January 2019. There were 47 Palos Verdes single family homes pending in January which increased from the 36 homes pending in December. The number of active Palos Verdes homes for sale in January (141) increased from the 129 homes for sale in December.
Average sales price for Palos Verdes homes sold in January increased to $1,723,000 compared to $1,686,000 in December, and decreased from the $3,037,000 in January 2019. Price per square foot for Palos Verdes houses that sold/closed escrow in January decreased to $607 from December ($627). Average days on market in January decreased to 61 days from 64 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3.5 months in January for Palos Verdes homes for sale compared to 2.3 months in December. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is lower indicating the continuing demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 144 single family Palos Verdes homes for sale. 62 Palos Verdes houses are in escrow (25 homes have pending sales and 37 homes are active under contract). Additionally, 14 homes have sold/closed escrow in the first 7 days of January.
To read December’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.