Palos Verdes real estate sales February 2021 for Palos Verdes homes was exactly the same as January. 54 Palos Verdes houses sold in both February and January and increased compared to the 37 homes that sold in February 2020. There were 70 Palos Verdes single family homes pending in February which increased from the 56 homes pending in January. The number of active Palos Verdes homes for sale in February (81) increased from the 72 homes for sale in January.
Average sales price for Palos Verdes homes sold in February increased to $2.323,000 compared to $2,032,000 in January, and increased from the $1,755,000 in February 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in February increased to $752 from $697 in January. Average days on market in February was 42 days which increased from the 39 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 1.6 months in February for Palos Verdes homes for sale compared to 1.3 months in January. 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 87 single family Palos Verdes homes for sale. 87 Palos Verdes houses are in escrow (37 homes have pending sales and 50 homes are active under contract). Additionally, 14 homes have sold/closed escrow in the first 5 days of January at an average sales price of $2,187,175.
Chart courtesy of Trendgraphix, Inc.