Palos Verdes real estate sales November 2023 for Palos Verdes homes decreased compared to October. 38 Palos Verdes houses sold in November compared to 61 homes in October and exactly the same as the 38 homes that sold in November 2022. There were 40 Palos Verdes single family homes pending in November which decreased from the 50 homes pending in October. The number of active Palos Verdes homes for sale in November (92) decreased from the 105 homes for sale in October.
Average sales price for Palos Verdes homes sold in November increased to $3,069,000 compared to $2,663,000 in October and increased from November 2022 at $2,192,000. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $917 from $923 in October Average days on market in November was 54 days which increased from 26 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.4 months in November which increased from 1.7 months in October 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 86 single family Palos Verdes homes for sale. 49 Palos Verdes houses are in escrow 27 homes have pending sales and 22 homes are active under contract). Additionally, 6 homes have sold/closed escrow in the first 6 days of December.
To read my October report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.