Palos Verdes Homes Sales June 2022
Palos Verdes real estate sales June 2022 for Palos Verdes homes increased compared to May. 70 Palos Verdes houses sold in May compared to 63 homes in May and decreased compared to the 83 homes that sold in June 2021. There were 47 Palos Verdes single family homes pending in June which decreased from the 67 homes pending in May. The number of active Palos Verdes homes for sale in June (91) increased from the 69 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $3,029,000 compared to $2,501,000 in May, and decreased from the $3,041,000 in June 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in June increased to $983 from $928 in May. Average days on market in June was 14 days which increased from 9 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.3 months in June which increased from 1.1 months in May 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 109 single family Palos Verdes homes for sale. 60 Palos Verdes houses are in escrow (31 homes have pending sales and 29 homes are active under contract). Additionally, 12 homes have sold/closed escrow in the first 8 days of July with an average sales price of $2,834,746.
To read my May report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.