Palos Verdes real estate sales September 2023 for Palos Verdes homes increased compared to August. 42 Palos Verdes houses sold in September compared to 33 homes in August and decreased compared to the 50 homes that sold in September 2022. There were 46 Palos Verdes single family homes pending in September which decreased from the 47 homes pending in August. The number of active Palos Verdes homes for sale in September (115) increased from the 93 homes for sale in August.
Average sales price for Palos Verdes homes sold in September increased to $2,574,000 compared to $2,432,000 in August and increased from September 2022 at $2,146,000. Price per square foot for Palos Verdes houses that sold/closed escrow in September increased to $945 from $915 in August. Average days on market in September was 31 days which increased from 27 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.7 months in September which decreased from 2.8 months in August 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 105 single family Palos Verdes homes for sale. 58 Palos Verdes houses are in escrow 29 homes have pending sales and 29 homes are active under contract). Additionally, 18 homes have sold/closed escrow in the first 6 days of October with an average sales price of $2,861,556.
To read my August report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.