Palos Verdes real estate sales July 2024 for Palos Verdes homes increased to compared June. 57 Palos Verdes houses sold in July compared to 49 homes in June and increased compared to the 40 homes that sold in July 2023. There were 53 Palos Verdes single family homes pending in July which increased from the 44 homes pending in June. The number of active Palos Verdes homes for sale in July (157) is exactly the same as homes for sale in June.
Average sales price for Palos Verdes homes sold in July decreased to $2,658,000 compared to $2,844,000 in June and decreased from July 2023 at $2,667,000. Price per square foot for Palos Verdes houses that sold/closed escrow in July decreased to $935 from $956 in June. Average days on market in June was 35 days which increased from 28 days in June. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 2.8 months in July whichdecreased from 3.2 months in June 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 155 single family Palos Verdes homes for sale. 58 Palos Verdes houses are in escrow (32 homes have pending sales and 26 homes are active under contract). Additionally, 23 homes have sold/closed escrow in the first 20 days of August.
To read my June report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
