Palos Verdes Homes Sales August 2022
Palos Verdes real estate sales August 2022 for Palos Verdes homes increased compared to July. 57 Palos Verdes houses sold in August compared to 43 homes in July and decreased compared to the 82 homes that sold in August 2021. There were 61 Palos Verdes single family homes pending in August which increased from the 48 homes pending in July. The number of active Palos Verdes homes for sale in August (113) decreased from the 122 homes for sale in July.
Average sales price for Palos Verdes homes sold in August decreased to $2,592,000 compared to $2,799,000 in July, and decreased from the $2,753,000 in August 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in August decreased to $888 from $926 in July. Average days on market in August was 27 days which increased from 22 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2 months in August which decreased from 2.8 months in July 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. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 100 single family Palos Verdes homes for sale. 63 Palos Verdes houses are in escrow (35 homes have pending sales and 28 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 8 days of September.
To read my July report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.