Palos Verdes Homes Sales December 2021
Palos Verdes real estate sales December 2021 for Palos Verdes homes increased compared to November. 72 Palos Verdes houses sold in December compared to 61 homes in November and decreased compared to the 78 homes that sold in December 2020. There were 35 Palos Verdes single family homes pending in December which decreased from the 54 homes pending in November. The number of active Palos Verdes homes for sale in December (45) decreased from the 54 homes for sale in November.
Average sales price for Palos Verdes homes sold in December decreased to $2,380,000 compared to $2,498,000 in November, and increased from the $1,997,000 in December 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in December decreased to $826 from $836 in November. Average days on market in December was 22 days which increased from the 19 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was .6 months in December which decreased from .9 months in November for Palos Verdes homes for sale. That is just 2½ weeks! 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 50 single family Palos Verdes homes for sale. 44 Palos Verdes houses are in escrow (32 homes have pending sales and 12 homes are active under contract). Additionally, 9 homes have sold/closed escrow in the first 7 days of January.
To read my November report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.