Last week’s triple-digit heat wave reminded me how thankful I am to live in a coastal community. I don’t know about other agents, but my client and I braved the weekend heat wave and toured several Palos Verdes homes for sale. Weather rarely deters a determined buyer (and their agent), but temperatures in the 90s, an unrelenting sun, and houses with no air-conditioning did call for several bottles of water and a shade break or two.  🙂

The luxury home market is experiencing increased inventory and shrinking sales. There are 65 Palos Verdes luxury homes priced over $3,000,000 listed for sale and only 5 in escrow. At the rate of current absorption, there is over a year’s supply of Palos Verdes luxury residences for sale. 32 Palos Verdes luxury homes have sold year-to-date.

Market snapshot for all Palos Verdes single family homes:

Market snapshots by Palos Verdes location:

 

For more information, or to sell or buy a Palos Verdes luxury home contact Norma Toering at 310.493.8333 or email Norma@CharlemagneProperties.com.

Selling Palos Verdes Properties Since 1992