Palos Verdes Homes Sales November 2021
Palos Verdes real estate sales November 2021 for Palos Verdes homes increased compared to October. 61 Palos Verdes houses sold in November compared to 58 homes in October and decreased compared to the 62 homes that sold in November 2020. There were 55 Palos Verdes single family homes pending in November which increased from the 71 homes pending in October. The number of active Palos Verdes homes for sale in November (54) decreased from the 72 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $2,498,000 compared to $2,611,000 in October, and increased from the $2,014,000 in November 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $836 from $879 in October. Average days on market in November was 19 days which was exactly the same as the 19 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was .9 months in November which decreased from 1.2 month in October 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 52 single family Palos Verdes homes for sale. 77 Palos Verdes houses are in escrow (56 homes have pending sales and 21 homes are active under contract). Additionally, 18 homes have sold/closed escrow in the first 8 days of December with an average sales price of $2,336,660.
To read my October report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.