Palos Verdes Homes Sales November 2022
Palos Verdes real estate sales November 2022 for Palos Verdes homes was increased compared to October. 38 Palos Verdes houses sold in November compared to 37 homes in October and decreased compared to the 61 homes that sold in November 2021. There were 36 Palos Verdes single family homes pending in November which was exactly the same as the 36 homes pending in October. The number of active Palos Verdes homes for sale in November (84) decreased from the 94 homes for sale in October.
Average sales price for Palos Verdes homes sold in November decreased to $2,192,000 compared to $2,446,000 in October and decreased from the $2,498,000 in November 2021. Price per square foot for Palos Verdes houses that sold/closed escrow in November increased to $870 from $854 in October. Average days on market in November was 38 days which decreased from 44 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.2 months in November which decreased from 2.5 months in October for Palos Verdes homes for sale. A “normal” or balanced market is considered 3 months of inventory. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 76 single family Palos Verdes homes for sale. 39 Palos Verdes houses are in escrow (23 homes have pending sales and 16 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 9 days of December with an average sales price of $2,387,765.
To read my October report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.