Palos Verdes real estate in 2021 experienced dramatic increases in the number of homes sold, average sales price, and price per square foot – all in the second year of the Co-vid pandemic.   There were 158 additional single family Palos Verdes homes sold in 2021 – 860 single family Palos Verdes homes sold in 2021 compared to 702 homes in 2020 – an increase of 22.5%.  Average price for Palos Verdes homes sold in 2021 was $2,472,706 compared to $2,024,603 in 2020 – an increase of 22.1%.  2021 average price per square foot for Palos Verdes homes was $830 compared to $683 in 2020 – an increase of 21.5%.

The mix of Palos Verdes homes sales for 2021 showed only 9 sales under $1,000,000 compared to 40 homes in 2020.  In 2021, 413 Palos Verdes homes sold between $1,000,000 and $2,000,000 (compared to 422 homes in 2020).  In 2021, 390 Palos Verdes homes sold between $2,000,000 and $5,000,000 (compared to 219 homes in 2020).  Finally, in 2021, 48 Palos Verdes homes sold for $5,000,000 or more (compared to 20 homes in 2020).  The most expensive home sold in 2021 for $16,680,000 compared to $10,500,000 in 2020.

Next week, I will discuss 2021 sales by neighborhood for all of the Palos Verdes Peninsula.

To read my article on Palos Verdes homes sales in 2020 click here.

Photo of Gazebo at Roessler Point in Palos Verdes Estates courtesy of Arvin Design