Palos Verdes Homes Sales March 2021
Palos Verdes real estate sales March 2021 for Palos Verdes homes increased compared to February. 73 Palos Verdes houses sold in March compared to 50 homes in February and increased compared to the 48 homes that sold in March 2020. There were 95 Palos Verdes single family homes pending in March which increased from the 89 homes pending in February. The number of active Palos Verdes homes for sale in March (89) increased from the 81 homes for sale in February.
Average sales price for Palos Verdes homes sold in March decreased to $2,159,000 compared to $2,323,000 in February, and increased from the $1,983,000 in March 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in March decreased to $742 from $752 in February. Average days on market in March was 31 days which decreased from the 42 days in February. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 1.2 months in March for Palos Verdes homes for sale compared to 1.6 months in February. 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 74 single family Palos Verdes homes for sale. 107 Palos Verdes houses are in escrow (55 homes have pending sales and 57 homes are active under contract). Additionally, 29 homes have sold/closed escrow in the first 9 days of April at an average sales price of $2,512,559.
To read my February report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
