Palos Verdes real estate sales April 2020 for Palos Verdes homes increased compared to March. 50 Palos Verdes houses sold in April compared to the 48 homes sold in March and increased compared to the 48 homes that sold in April 2019. There were 42 Palos Verdes single family homes pending in April which is exactly the same as the 42 homes pending in March. The number of active Palos Verdes homes for sale in April (141) was slightly higher than the 140 homes for sale in March.
Average sales price for Palos Verdes homes sold in April decreased to $1,938,000 compared to $1,983,000 in March, and increased from the $1,888,000 in April 2019. Price per square foot for Palos Verdes houses that sold/closed escrow in April decreased to $602 from March ($655). Average days on market in April was 38 days which decreased from the 52 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 2.8 months in April for Palos Verdes homes for sale compared to 2.9 months in March. 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 130 single family Palos Verdes homes for sale. 62 Palos Verdes houses are in escrow (26 homes have pending sales and 36 homes are active under contract). Additionally, 9 homes have sold/closed escrow in the first 8 days of May.
Chart courtesy of Trendgraphix, Inc.