The weather today is hotter than the single-family residential market on the Palos Verdes Peninsula–and that’s hot! Thanks to Santa Ana winds and a longtime smoldering seller’s market both fall into the “hot” category. How long either will last is hard to predict, but one thing I’m certain of is neither one will last forever.
Notice the “Little Yellow Dot” indicates the heat of the seller’s market is intensifying as we enter the spring and summer selling seasons. Most people prefer to move during the summer, especially if they have children in school.
Let’s review other sub-markets within the overall Palos Verdes real estate market.
The single-family luxury market and Rolling Hills are both in a neutral market favoring neither the seller nor the buyer. Both markets consist of higher priced homes than the general PV real estate market. Hence, there is a smaller pool of buyers for the properties, and they tend to be absorbed at a slower rate.
There are currently 149 single-family homes for sale on the Palos Verdes Peninsula. 83 Palos Verdes residences are in escrow with an accepted offer. 140 Palos Verdes homes have sold year-to-date. Inventory remains low.
For more information about a particular neighborhood or an individual property contact Norma Toering at 310.493.8333 or email Norma@CharlemagneProperties.com.