Palos Verdes real estate sales March 2024 for Palos Verdes homes increased to compared February. 42 Palos Verdes houses sold in March compared to 31 homes in February and decreased compared to the 47 homes that sold in March 2023. There were 56 Palos Verdes single family homes pending in March which increased from the 35 homes pending in February. The number of active Palos Verdes homes for sale in March (87) decreased from the 91 homes for sale in February.
Average sales price for Palos Verdes homes sold in March increased to $2,623,000 compared to $2,567,000 in February and increased from March 2023 at $2,518,000. Price per square foot for Palos Verdes houses that sold/closed escrow in March decreased to $881 from $900 in February. Average days on market in March was 42 days which decreased from 48 days in February. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.1 months in March which decreased from 2.9 months in February 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 97 single family Palos Verdes homes for sale. 61 Palos Verdes houses are in escrow (30 homes have pending sales and 31 homes are active under contract). Additionally, 14 homes have sold/closed escrow in the first 11 days of April.
To read my February report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
