Palos Verdes real estate sales November 2024 for Palos Verdes homes decreased to compared October. 29 Palos Verdes houses sold in November compared to 51 homes in October and decreased compared to the 38 homes that sold in November 2023. There were 39 Palos Verdes single family homes pending in November which decreased from the 40 homes pending in October. The number of active Palos Verdes homes for sale in November (168) decreased from the 168 homes for sale in October.
Average sales price for Palos Verdes homes sold in November increased to $2,387,000 compared to $2,331,000 in October and decreased from November 2023 at $3,069,000. Price per square foot for Palos Verdes houses that sold/closed escrow in November decreased to $909 from $947 in October. Average days on market in November was 48 days which increased from 36 days in October. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 4.4 months in November which increased from 3.3 months in October 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 119 single family Palos Verdes homes for sale. 45 Palos Verdes houses are in escrow (21 homes have pending sales and 24 homes are active under contract). Additionally, 11 homes have sold/closed escrow in the first 6 days of December.
To read my October report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
