Time to sit this one out, or move forward with selling or buying?

 

 

Before the Age of the Coronavirus, the Palos Verdes luxury home market was in the midst of an increased demand that nearly doubled the number of high-end residences in escrow. This reduction in inventory tipped the Little Yellow Dot reflecting the luxury segment of the local real estate market toward a seller’s market.

There are 52 Palos Verdes luxury homes for sale. Thirteen PV luxury residences are in escrow with accepted offers, and 14 Palos Verdes luxury properties have sold year-to-date.

Is it still possible to sell a luxury home given the state of the world? Yes, thanks to the evolution of moving real estate marketing and transactions online, there is very little face-to-face interaction between agents and clients. Open houses and face-to-face showings may be a thing of the past. However, online virtual tours, combined with aerial photographs, and a plethora of professional interior photos are the next best thing to walking the property. I recently conducted an interactive showing via FaceTime with the prospective buyer asking questions as I walked the property. As the saying goes, where there’s a will, there’s a way.

More Palos Verdes Real Estate Snapshots for April 2020:

 

If you would like more information about a particular neighborhood or have questions about the value of your property, contact me at 310.493.8333 or email Norma@CharlemagneProperties.com. You may also submit the below contact form with your requests and questions.

 

Selling Palos Verdes Properties Since 1992

Norma Toering, Broker/Owner