Palos Verdes Homes Sales January 2022
Palos Verdes real estate sales January 2022 for Palos Verdes homes decreased compared to December. 34 Palos Verdes houses sold in January compared to 72 homes in December and decreased compared to the 54 homes that sold in January 2021. There were 54 Palos Verdes single family homes pending in January which increased from the 33 homes pending in December. The number of active Palos Verdes homes for sale in January (50) increased from the 45 homes for sale in December.
Average sales price for Palos Verdes homes sold in January increased to $2,425,000 compared to $2,378,000 in December, and increased from the $2,030,000 in January 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in January increased to $865 from $826 in December. Average days on market in January was 32 days which increased from the 22 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.5 months in January which increased from .6 months in December 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 58 single family Palos Verdes homes for sale. 79 Palos Verdes houses are in escrow (47 homes have pending sales and 32 homes are active under contract). Additionally, 10 homes have sold/closed escrow in the first 10 days of February with an average sales price of $3,211,319.
To read my December report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
