Palos Verdes real estate sales May 2024 for Palos Verdes homes increased to compared April. 51 Palos Verdes houses sold in April compared to 50 homes in April and decreased compared to the 60 homes that sold in May 2023. There were 61 Palos Verdes single family homes pending in May which increased from the 48 homes pending in April. The number of active Palos Verdes homes for sale in May (131) increased from the 119 homes for sale in April.
Average sales price for Palos Verdes homes sold in May increased to $2,661,000 compared to $2,657,000 in April and increased from May 2023 at $2,519,000. Price per square foot for Palos Verdes houses that sold/closed escrow in May decreased to $910 from $955 in April. Average days on market in May was 31 days which increased from 18 days in April. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.6 months in May which increased from 2.4 months in April for Palos Verdes homes for sale. A “normal” or balanced market is considered 6 months of inventory. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 135 single family Palos Verdes homes for sale. 62 Palos Verdes houses are in escrow (36 homes have pending sales and 26 homes are active under contract). Additionally, 14 homes have sold/closed escrow in the first 7 days of June at an average sales price of $3,055,357.
To read my April report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
