Palos Verdes real estate sales December 2023 for Palos Verdes homes decreased compared to November. 33 Palos Verdes houses sold in December compared to 38 homes in November and exactly the same as the 33 homes that sold in December 2022. There were 33 Palos Verdes single family homes pending in December which decreased from the 40 homes pending in November. The number of active Palos Verdes homes for sale in December (62) decreased from the 92 homes for sale in November.
Average sales price for Palos Verdes homes sold in December decreased to $2,630,000 compared to $3,069,000 in November and increased from December 2022 at $2,431,000. Price per square foot for Palos Verdes houses that sold/closed escrow in December increased to $933 from $917 in November Average days on market in December was 67 days which increased from 54 days in November. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 1.9 months in December which decreased from 2.4 months in November 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 76 single family Palos Verdes homes for sale. 29 Palos Verdes houses are in escrow 13 homes have pending sales and 16 homes are active under contract). Additionally, 20 homes have sold/closed escrow in the first 11 days of January.
To read my November report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.