Palos Verdes real estate sales June 2023 for Palos Verdes homes increased compared to May. 64 Palos Verdes houses sold in June compared to 60 homes in May and decreased compared to the 70 homes that sold in June 2022. There were 51 Palos Verdes single family homes pending in June which decreased from the 56 homes pending in May. The number of active Palos Verdes homes for sale in June (87) increased from the 72 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $2,778,000 compared to $2,519,000 in May and decreased from June 2022 at $3,029,000. Price per square foot for Palos Verdes houses that sold/closed escrow in June decreased to $930 from $931 in May. Average days on market in June was 31 days which increased from 29 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.4 months in June which increased from 1.2 months in May 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 80 single family Palos Verdes homes for sale. 46 Palos Verdes houses are in escrow 23 homes have pending sales and 23 homes are active under contract). Additionally, 8 homes have sold/closed escrow in the first 7 days of July with an average sales price of $2,840,000.
To read my May report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.