Palos Verdes real estate in 2020 experienced increases in the number of homes sold, average sales price, and price per square foot – all this during the Co-vid pandemic.   There were 33 additional single family Palos Verdes homes sold in 2020 – 701 single family Palos Verdes homes sold in 2020 compared to 668 homes in 2019 – an increase of 4.9%.  Average price for Palos Verdes homes sold in 2020 was $2,025,422 compared to $1,806,133 in 2019 – an increase of 12.1%.  2020 average price per square foot for Palos Verdes homes was $683 compared to $655 in 2019 – an increase of 4.2%.

The mix of Palos Verdes homes sales for 2020 again showed less sales under $1,000,000.  In 2020, 40 Palos Verdes homes sold for under $1,000,000 (compared to 59 homes in 2019).  In 2020, 422 Palos Verdes homes sold between $1,000,000 and $2,000,000 (compared to 426 homes in 2019).  In 2020, 219 Palos Verdes homes sold between $2,000,000 and $5,000,000 (compared to 164 homes in 2019).  Finally, in 2020, 20 Palos Verdes homes sold for $5,000,000 or more (compared to 11 homes in 2019).  The most expensive home sold in 2020 for $10,500,000 compared to $15,500,000 in 2019.

Next week, I will discuss 2020 sales by neighborhood for all of the Palos Verdes Peninsula.

To read my article on Palos Verdes homes sales in 2019, click here.

Photo of a Palos Verdes cove courtesy of Arvin Design