Let’s check in on the luxury home market ($3MM and up) in Palos Verdes to see if sales are still sizzling or beginning to fizzle as we pass the halfway point of 2016. The local real estate market still favors sellers but buyers still have interest rates on their side of the balance sheet. However, the luxury market’s ample supply of inventory and slower absorption rate places the luxury segment of the Palos Verdes real estate market in neutral territory favoring neither the seller nor the buyer.
2016 Palos Verdes real estate report for luxury homes priced at or above $3,000,000:
There are currently 61 Palos Verdes luxury homes for sale priced at or above $3MM.
There are 13 Palos Verdes luxury properties in escrow with accepted offers.
Seven Palos Verdes luxury homes sold during June 2016.
Thirty Palos Verdes luxury homes have sold year-to-date in 2016.
For information about selling or buying a Palos Verdes luxury home contact Charlemagne Int’l Properties at 310.493.8333 or email Norma@CharlemagneProperties.com