Palos Verdes real estate sales September 2021 for Palos Verdes homes increased compared to August. 98 Palos Verdes houses sold in September compared to 82 homes in August and increased compared to the 79 homes that sold in September 2020. There were 66 Palos Verdes single family homes pending in September which decreased from the 88 homes pending in August. The number of active Palos Verdes homes for sale in September (74) decreased from the 84 homes for sale in August.
Average sales price for Palos Verdes homes sold in September decreased to $2,444,000 compared to $2,753,000 in August, and increased from the $2,388,000 in September 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in September decreased to $859 from $885 in August. Average days on market in September was 23 days which decreased from the 24 days in August. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was .8 month in September which decreased from 1 full month August for Palos Verdes homes for sale. Less than a month is the lowest in recent memory. A “normal” or balanced market is considered 3 months of inventory and Palos Verdes real estate “months of inventory” is considerably lower indicating the continuing demand for Palos Verdes homes. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 80 single family Palos Verdes homes for sale. 81 Palos Verdes houses are in escrow (49 homes have pending sales and 39 homes are active under contract). Additionally, 15 homes have sold/closed escrow in the first 8 days of October.
To read my August report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.