Palos Verdes real estate sales September 2024 for Palos Verdes homes decreased to compared August. 35 Palos Verdes houses sold in September compared to 48 homes in August and decreased compared to the 42 homes that sold in September 2023. There were 44 Palos Verdes single family homes pending in September which decreased from the 50 homes pending in August. The number of active Palos Verdes homes for sale in September (166) increased from the 153 homes for sale in August.
Average sales price for Palos Verdes homes sold in September decreased to $2,189,000 compared to $2,728,000 in August and decreased from September 2023 at $2,574,000. Price per square foot for Palos Verdes houses that sold/closed escrow in September decreased to $810 from $962 in August. Average days on market in September was 39 days which increased from 37 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 4.7 months in September which increased from 3.2 months in August 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 173 single family Palos Verdes homes for sale. 47 Palos Verdes houses are in escrow (32 homes have pending sales and 15 homes are active under contract). Additionally, 23 homes have sold/closed escrow in the first 11 days of October.
To read my August report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
