Palos Verdes real estate sales April 2021 for Palos Verdes homes increased compared to March. 85 Palos Verdes houses sold in April compared to 73 homes in March and increased compared to the 51 homes that sold in April 2020. There were 73 Palos Verdes single family homes pending in April which decreased from the 94 homes pending in March. The number of active Palos Verdes homes for sale in April (84) decreased from the 89 homes for sale in March.
Average sales price for Palos Verdes homes sold in April increased to $2,378,000 compared to $2,159,000 in March, and increased from the $1,993,000 in April 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $781 from $742 in March. Average days on market in April was 23 days which decreased from the 31 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) decreased to 1 month in April for Palos Verdes homes for sale compared to 1.2 months in March. 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. 94 Palos Verdes houses are in escrow (46 homes have pending sales and 48 homes are active under contract). Additionally, 36 homes have sold/closed escrow in the first 7 days of April at an average sales price of $2,326,680.
To read my March report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.