Palos Verdes real estate sales February 2024 for Palos Verdes homes decreased to compared January. 31 Palos Verdes houses sold in February compared to 33 homes in January and increased compared to the 29 homes that sold in February 2023. There were 33 Palos Verdes single family homes pending in February which increased from the 32 homes pending in January. The number of active Palos Verdes homes for sale in February (91) decreased from the 94 homes for sale in January.
Average sales price for Palos Verdes homes sold in February decreased to $2,567,000 compared to $2,887,000 in January and increased from February 2023 at $2,372,000. Price per square foot for Palos Verdes houses that sold/closed escrow in February decreased to $900 from $969 in January. Average days on market in February was 48 days which increased from 47 days in January. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.9 months in February which increased from 2.8 months in January 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 92 single family Palos Verdes homes for sale. 43 Palos Verdes houses are in escrow (20 homes have pending sales and 23 homes are active under contract). Additionally, 13 homes have sold/closed escrow in the first 8 days of March with an average sales price of $3,255,308.
To read my January report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
