Palos Verdes Homes Sales 1st Half 2021

Palos Verdes Homes Sales 1st Half 2021

Palos Verdes real estate prices increased for the first half of 2021 with increases in number of homes sold, average sales price, and price per square foot.   The number of Palos Verdes homes sold in the first half of 2021 was higher than the first half of 2020 (410 compared to 259). 2021 first half average sales price for single family Palos Verdes homes increased compared to the first half of 2020 – $2,408,633 compared to $1,845,727.   Average price per square foot for Palos Verdes homes sold in the first half of 2021 was $799 compared to $633 for the same time period in 2020 – an increase of 26.2%.

The mix of Palos Verdes homes sales for the first half of 2021 showed fewer sales under $1,000.000 compared to the first half of 2020.  In first half of 2021, only 8 Palos Verdes homes sold under $1,000,000 which was 2% of sales (compared to 17 homes – 6.6% – in first half of 2020).  In the first half of 2021, 210 Palos Verdes homes sold between $1,000,000 and $2,000,000 which was 51% of sales (compared to 174 homes – 67.2% – in first half of 2020).  In first half of 2021, 172 Palos Verdes homes sold between $2,000,000 and $5,000,000 which was 42% of sales (compared to 62 homes – 23.9% – first half 2020).  Finally, in the first half of 2021, 20 Palos Verdes homes sold for $5,000,000+ which was 5% of sales (compared to 6 homes – 2.3% – first half 2020).

The total valuation for all single family Palos Verdes homes sold the first six months of 2021 increased from 2020 – $985,940,812 compared to $483,884,714 with 151 additional homes sold in the first half of 2021.  In the first half of 2021, the highest priced home sold for $16,680,000 in the City of Rolling Hills (first half of 2020, there was a $6,700,000 sale) and the lowest price home sold for $800,000 in Rancho Palos Verdes.  Next week, I will discuss Palos Verdes homes sales for first half 2021 for the individual Palos Verdes neighborhoods. To read my article on Palos Verdes homes sales first half 2020, click here.

Photo of Point Vicente Lighthouse in Palos Verdes courtesy of Arvin Design

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