The market for single-family homes in Palos Verdes Estates remains in a robust seller’s market. There are 62 Palos Verdes Estates single family homes for sale. 29 PVE residences are in escrow with accepted offers, and 93 Palos Verdes Estates houses have sold year-to-date.
The overall single-family home market on the Palos Verdes Peninsula has slowed slightly due to increased inventory and slowed absorption. In April 2018 MLS records show there were 147 single family homes listed for sale. My July stats reveal we now have 219 active listings for single-family houses on the entire Palos Verdes Peninsula. The market still favors sellers, but due to the increased inventory, buyers have more choices. Likewise, due to the slower absorption rate, buyers have more negotiating power as the market edges toward a neutral and balanced market favoring neither the seller nor the buyer.
Due to the higher price point of homes in Rolling Hills and the luxury market of homes priced at or above $3,000,000, those markets favor the buyer. Sellers can expect those properties to spend more days on the market while they wait for a buyer from a much smaller pool of high-end home purchasers.
I track the local Palos Verdes Real Estate Market so you won’t have to do it!
That’s the July market update for Palos Verdes single-family homes. If you would like more information about homes for sale or selling your Palos Verdes Estates property contact Norma Toering at 310.493.8333, or email Norma@CharlemagneProperties.com.
Selling Palos Verdes Properties Since 1992