Palos Verdes real estate sales January 2024 for Palos Verdes homes was exactly the same as December. 33 Palos Verdes houses sold in January compared to 33 homes in December and increased compared to the 24 homes that sold in January 2023. There were 32 Palos Verdes single family homes pending in January which increased from the 31 homes pending in December. The number of active Palos Verdes homes for sale in January (94) increased from the 62 homes for sale in December.
Average sales price for Palos Verdes homes sold in January increased to $2,887,000 compared to $2,630,000 in December and increased from January 2023 at $2,301,000. Price per square foot for Palos Verdes houses that sold/closed escrow in January increased to $969 from $933 in December Average days on market in January was 47 days which decreased from 67 days in December. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.8 months in January which increased from 1.9 months in December 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 83 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 9 days of February.
To read my December report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.