Palos Verdes Home Sales Up In 2020!

Palos Verdes Home Sales Up In 2020!

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

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