Palos Verdes Homes Sales July 2022

Palos Verdes Homes Sales July 2022

Palos Verdes real estate sales July 2022 for Palos Verdes homes decreased compared to June.  43 Palos Verdes houses sold in July compared to 70 homes in June and decreased compared to the 84 homes that sold in July 2021.  There were 54 Palos Verdes single family homes pending in July which increased from the 45 homes pending in June.  The number of active Palos Verdes homes for sale in July (122) increased from the 91 homes for sale in June.

Average sales price for Palos Verdes homes sold in July decreased to $2,799,000 compared to $3,029,000 in June, and increased from the $2,482,000 in July 2021.  Price per square foot for Palos Verdes houses that sold/closed escrow in July decreased to $926 from $982 in June.  Average days on market in July was 22 days which increased from 14 days in June.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.8 months in July which increased from 1.3 months in June 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 still lower indicating the continuing demand for Palos Verdes homes. Inventory of Palos Verdes homes for sale has increased dramatically in the last two months. Entire charts can be accessed by clicking here or on the “Statistics” tab above.

Currently, there are 124 single family Palos Verdes homes for sale.  60 Palos Verdes houses are in escrow (34 homes have pending sales and 26 homes are active under contract).  Additionally, 22 homes have sold/closed escrow in the first 10 days of August.

To read my June report on Palos Verdes Real Estate sales, click here.

Chart courtesy of Trendgraphix, Inc.

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