Palos Verdes real estate sales April 2024 for Palos Verdes homes increased to compared March. 50 Palos Verdes houses sold in March compared to 42 homes in March and increased compared to the 39 homes that sold in April 2023. There were 55 Palos Verdes single family homes pending in April which is exactly the same as the 55 homes pending in March. The number of active Palos Verdes homes for sale in April (119) increased from the 87 homes for sale in March.
Average sales price for Palos Verdes homes sold in April increased to $2,657,000 compared to $2,623,000 in March and increased from April 2023 at $2,561,000. Price per square foot for Palos Verdes houses that sold/closed escrow in March increased to $955 from $881 in March. Average days on market in April was 18 days which decreased from 42 days in March. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.4 months in April which increased from 2.1 months in March 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 125 single family Palos Verdes homes for sale. 63 Palos Verdes houses are in escrow (31 homes have pending sales and 32 homes are active under contract). Additionally, 16 homes have sold/closed escrow in the first 10 days of May.
To read my March report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
