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