Palos Verdes real estate sales January 2023 for Palos Verdes homes decreased compared to December. 24 Palos Verdes houses sold in January compared to 33 homes in December and decreased compared to the 34 homes that sold in January 2022. There were 36 Palos Verdes single family homes pending in January which increased from the 23 homes pending in December. The number of active Palos Verdes homes for sale in January (66) increased from the 62 homes for sale in December.
Average sales price for Palos Verdes homes sold in January decreased to $2,301,000 compared to $2,431,000 in December and decreased from the $2,425,000 in January 2022. Price per square foot for Palos Verdes houses that sold/closed escrow in January increased to $881 from $855 in December. Average days on market in January was 45 days which decreased from 66 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.8 months in January which increased from 1.9 months in December 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 53 single family Palos Verdes homes for sale. 55 Palos Verdes houses are in escrow (27 homes have pending sales and 28 homes are active under contract). Additionally, 9 homes have sold/closed escrow in the first 10 days of February with an average sales price of $2,319,778.
To read my December report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.