Palos Verdes real estate sales April 2023 for Palos Verdes homes decreased compared to March. 39 Palos Verdes houses sold in April compared to 47 homes in March and decreased compared to the 64 homes that sold in April 2022. There were 55 Palos Verdes single family homes pending in April which increased from the 46 homes pending in March. The number of active Palos Verdes homes for sale in April (70) increased from the 66 homes for sale in March.
Average sales price for Palos Verdes homes sold in April increased to $2,561,000 compared to $2,518,000 in March and was about the same as April 2022 at $2,560,000. Price per square foot for Palos Verdes houses that sold/closed escrow in April increased to $887 from $873 in March. Average days on market in April was 37 days which increased from 34 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.8 months in April which increased from 1.4 months in March 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 69 single family Palos Verdes homes for sale. 65 Palos Verdes houses are in escrow (27 homes have pending sales and 38 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 8 days of May with an average sales price of $2,832,500.
To read my March report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.