Palos Verdes real estate sales August 2021 for Palos Verdes homes decreased compared to July. 82 Palos Verdes houses sold in August compared to 84 homes in July and increased compared to the 76 homes that sold in August 2020. There were 89 Palos Verdes single family homes pending in August which increased from the 86 homes pending in July. The number of active Palos Verdes homes for sale in August (84) decreased from the 86 homes for sale in July.
Average sales price for Palos Verdes homes sold in August increased to $2,753,000 compared to $2,482,000 in July, and increased from the $2,018,000 in August 2020. Price per square foot for Palos Verdes houses that sold/closed escrow in August increased to $885 from $828 in July. Average days on market in August was 24 days which increased from the 21 days in July. Months of inventory (months it would take to sell existing inventory at the current rate of sale) stayed at 1 month in August which is exactly the same as July for Palos Verdes homes for sale. 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 77 single family Palos Verdes homes for sale. 100 Palos Verdes houses are in escrow (57 homes have pending sales and 43 homes are active under contract). Additionally, 32 homes have sold/closed escrow in the first 12 days of August.
To read my July report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.