Palos Verdes Homes Sales February 2022
Palos Verdes real estate sales February 2022 for Palos Verdes homes increased compared to January. 51 Palos Verdes houses sold in February compared to 34 homes in January and increased compared to the 51 homes that sold in February 2021. There were 77 Palos Verdes single family homes pending in February which increased from the 54 homes pending in January. The number of active Palos Verdes homes for sale in February (47) decreased from the 50 homes for sale in January.
Average sales price for Palos Verdes homes sold in February increased to $2,918,000 compared to $2,425,000 in January, and increased from the $2,323,000 in February 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in February increased to $916 from $865 in January. Average days on market in February was 32 days which was exactly the same as the 32 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 0.9 months in February which decreased from 1.5 months in January 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 48 single family Palos Verdes homes for sale. 84 Palos Verdes houses are in escrow (58 homes have pending sales and 26 homes are active under contract). Additionally, 21 homes have sold/closed escrow in the first 8 days of March with an average sales price of $3,749,599.
To read my January report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.