Palos Verdes Homes Sales September 2022

Average sales price for Palos Verdes homes sold in September decreased to $2,146,000 compared to $2,592,000 in August, and decreased from the $2,437,000 in September 2021.  Price per square foot for Palos Verdes houses that sold/closed escrow in September decreased to $887 from $888 in August.  Average days on market in September was 21 days which decreased from 27 days in August.  Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.3 months in September which increased from 2 months in August for Palos Verdes homes for sale.  A “normal” or balanced market is considered 3 months of inventory.  The Palos Verdes real estate market has slowed in the past few months as interest rates have climbed higher.  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.  49 Palos Verdes houses are in escrow (28 homes have pending sales and 21 homes are active under contract).  Additionally, 9 homes have sold/closed escrow in the first 7 days of October.

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

Chart courtesy of Trendgraphix, Inc.