Palos Verdes real estate sales December 2020 for Palos Verdes homes increased compared to November. 78 Palos Verdes houses sold in December compared to the 62 homes sold in November and increased compared to the 56 homes that sold in December 2019. There were 54 Palos Verdes single family homes pending in December which decreased from the 61 homes pending in November. The number of active Palos Verdes homes for sale in December (82) decreased from the 111 homes for sale in November.
Average sales price for Palos Verdes homes sold in December decreased to $1,996,000 compared to $2,015,000 in November, and increased from the $1,686,000 in December 2019. Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $723 from $682 in November. Average days on market in December was 26 days which decreased from the 44 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 1.1 months in December for Palos Verdes homes for sale compared to 1.8 months in November. A “normal” or balanced market is considered 3 months of inventory and Palos Verdes real estate “months of inventory” is considerably 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 77 single family Palos Verdes homes for sale. 69 Palos Verdes houses are in escrow (29 homes have pending sales and 40 homes are active under contract). Additionally, 17 homes have sold/closed escrow in the first 8 days of January.
To read my November report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.