I’m not a big proponent of trying to time the real estate market when it comes to buying low and selling high when it comes to luxury residences. It’s my belief the seller’s individual timing is far more important in determining the most advantageous time to sell. That said, I do advise those who are in the market to sell a luxury property to follow their local neighborhood sales and listings in order to be aware of real estate conditions that may affect the value of their property.
Most luxury markets are fully recovered from the real estate crash of 2008. Many neighborhood are selling far above 2007’s peak prices. A few markets are still in recovery mode. Hermosa Beach, as most of the South Bay, remains in a long-running sellers’ market. With interest rates promised to rise in the coming months, now is an excellent time for sellers to bring their residences on the market. Although the Beach Cities luxury market has cooler a tad, there is still considerable demand for homes in the three million dollar and up and range.
Why list your home as the holidays are fast approaching? Many people will delay selling until the first of the year. However, buyers rarely delay their search for a home due to the holiday season. Your property may benefit from the lack of new listings available.
Hermosa Beach, California luxury listings and sales market update for November 2015:
Three Hermosa Beach luxury residences priced at or above $3,000,000 sold during October 2015.
Four Hermosa Beach luxury properties are currently for sale in the $3,000,000 and up price range.
There are currently no Hermosa Beach luxury homes in the $3M+ price range in escrow.
For more information on luxury homes in the Beach Cities of Hermosa, Manhattan and Redondo contact Charlemagne Int’l Properties at 310.493.8333 or email Norma@CharlemagneProperties.com. Josh Toering may be reached at 310.525.9440 or ToeringandTeam@gmail.com. We will help you find the right luxury home for you.