Palos Verdes Homes Sales March 2022
Palos Verdes real estate sales March 2022 for Palos Verdes homes increased compared to February. 76 Palos Verdes houses sold in March compared to 52 homes in February and increased compared to the 72 homes that sold in March 2021. There were 68 Palos Verdes single family homes pending in March which decreased from the 77 homes pending in February. The number of active Palos Verdes homes for sale in March (40) decreased from the 47 homes for sale in February.
Average sales price for Palos Verdes homes sold in March increased to $2,969,000 compared to $2,913,000 in February, and increased from the $2,155,000 in March 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in March increased to $943 from $919 in February. Average days on market in March was 21 days which decreased from 31 days in February. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 0.5 months in March which decreased from .09 months in February 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 44 single family Palos Verdes homes for sale. 80 Palos Verdes houses are in escrow (48 homes have pending sales and 32 homes are active under contract). Additionally, 11 homes have sold/closed escrow in the first 7 days of April.
To read my February report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.