Palos Verdes real estate sales August 2024 for Palos Verdes homes decreased to compared July. 48 Palos Verdes houses sold in August compared to 56 homes in July and increased compared to the 33 homes that sold in August 2023. There were 52 Palos Verdes single family homes pending in August which increased from the 51 homes pending in July. The number of active Palos Verdes homes for sale in August (153) decreased from the 157 homes for sale in July.
Average sales price for Palos Verdes homes sold in August increased to $2,728,000 compared to $2,669,000 in July and increased from August 2023 at $2,432,000. Price per square foot for Palos Verdes houses that sold/closed escrow in August increased to $962 from $935 in July. Average days on market in August was 37 days which increased from 35 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 3.2 months in August which increased from 2.8 months in July 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. 56 Palos Verdes houses are in escrow (28 homes have pending sales and 28 homes are active under contract). Additionally, 6 homes have sold/closed escrow in the first 6 days of September.
To read my July report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
