Palos Verdes real estate sales June 2021 for Palos Verdes homes inecreased compared to May. 82 Palos Verdes houses sold in June compared to 75 homes in May and increased compared to the 54 homes that sold in June 2020. There were 93 Palos Verdes single family homes pending in June which increased from the 80 homes pending in May. The number of active Palos Verdes homes for sale in June (89) increased from the 80 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $3,058,000 compared to $2,282,000 in May, and increased from the $1,748,000 in June 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in June increased to $894 from $821 in May. Average days on market in June was 30 days which increased from the 14 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was exactly the same in June and May – 1.1 months for Palos Verdes homes for sale. 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 70 single family Palos Verdes homes for sale. 84 Palos Verdes houses are in escrow (45 homes have pending sales and 39 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 8 days of July.
To read my May report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.