There’s chatter in the real estate market about a market shift. That’s a soft notice to active participants in the real estate scene. If you’re selling, you are likely wondering if you missed the seller’s market. If you are a buyer, you’re wondering whether you should buy now or wait. Like most markets, the real estate market is fluid and reacts to supply and demand. Election years add a new player in the mix of economic and political impact on real estate activity. The cycle of ups and downs are always a factor to consider. However, timing the market is never easy.
The most crucial timing is your timing. Whether it’s a new job, a new school district, or time to retire, your life situation often takes precedence over external market movers. Moving your life forward often involves real estate changes, as well.
The Palos Verdes luxury market is languishing a bit as we move toward the end of 2019. There are 63 Palos Verdes homes priced at or above $3,000,000. Four PV luxury properties are in escrow with accepted offers, and at the time of writing this article, 50 Palos Verdes luxury homes sold year-to-date. With those numbers, it is easy to see why the luxury home market in Palos Verdes is offering high-end homebuyers opportunities in location, inventory, and price.
More Palos Verdes Real Estate Snapshots for October 2019:
For more information about your Palos Verdes or South Bay neighborhood of choice, contact Norma Toering at 310.493.8333 or email Norma@CharlemagneProperties.com.
Selling Palos Verdes Properties Since 1992
Norma Toering Broker/Owner