Palos Verdes real estate sales June 2024 for Palos Verdes homes decreased to compared May. 49 Palos Verdes houses sold in June compared to 51 homes in May and decreased compared to the 64 homes that sold in June 2023. There were 44 Palos Verdes single family homes pending in June which decreased from the 59 homes pending in May. The number of active Palos Verdes homes for sale in June (157) increased from the 131 homes for sale in May.
Average sales price for Palos Verdes homes sold in June increased to $2,844,000 compared to $2,661,000 in May and increased from June 2023 at $2,778,000. Price per square foot for Palos Verdes houses that sold/closed escrow in June increased to $956 from $910 in May. Average days on market in June was 28 days which decreased from 31 days in May. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 3.2 months in June which increased from 2.6 months in May for Palos Verdes homes for sale. A “normal” or balanced market is considered 3 to 6 months of inventory (less than 3 months is a seller’s market and more than 6 months is a buyer’s market). Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 148 single family Palos Verdes homes for sale. 60 Palos Verdes houses are in escrow (31 homes have pending sales and 29 homes are active under contract). Additionally, 19 homes have sold/closed escrow in the first 12 days of July at an average sales price of $2,755,738.
To read my May report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
