Palos Verdes real estate sales November 2020 for Palos Verdes homes decreased compared to October. 62 Palos Verdes houses sold in November compared to the 81 homes sold in October and increased compared to the 61 homes that sold in November 2019. There were 62 Palos Verdes single family homes pending in November which decreased from the 70 homes pending in October. The number of active Palos Verdes homes for sale in November (111) decreased from the 115 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $2,015,000 compared to $2,049,000 in October, and increased from the $1,647,000 in November 2019. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $682 from $691 in October. Average days on market in November was 44 days which increased from the 43 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 1.8 months in November for Palos Verdes homes for sale compared to 1.4 months in October. A “normal” or balanced market is considered 3 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 91 single family Palos Verdes homes for sale. 91 Palos Verdes houses are in escrow (44 homes have pending sales and 47 homes are active under contract). Additionally, 26 homes have sold/closed escrow in the first 10 days of December with an average sales price of $1,993,948.
To read my October report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.