Palos Verdes real estate sales October 2023 for Palos Verdes homes increased compared to September. 61 Palos Verdes houses sold in October compared to 42 homes in September and increased compared to the 38 homes that sold in October 2022. There were 52 Palos Verdes single family homes pending in October which increased from the 41 homes pending in September. The number of active Palos Verdes homes for sale in October (105) decreased from the 115 homes for sale in September.
Average sales price for Palos Verdes homes sold in October increased to $2,663,000 compared to $2,574,000 in September and increased from October 2022 at $2,426,000. Price per square foot for Palos Verdes houses that sold/closed escrow in October decreased to $923 from $945 in September Average days on market in October was 26 days which decreased from 31 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.7 months in October which decreased from 2.7 months in September 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 108 single family Palos Verdes homes for sale. 46 Palos Verdes houses are in escrow 28 homes have pending sales and 18 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 10 days of November with an average sales price of $3,062,773.
To read my September report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
