I’m sipping a tall glass of iced sun tea as I write this on a hot and humid Saturday morning. July’s heat is more than making up for our cooler than usual June! Does weather affect the Palos Verdes real estate market? Yes, but not nearly as much as in other parts of the U.S. Once in a while I will have a showing cancellation due to extreme heat, but those are rare. Many homes have air conditioning or ocean breezes–sometimes both, making touring houses comfortable except on triple-digit heat days.
Rancho Palos Verdes real estate market seems to be tolerating the heat wave just fine. Once again it remains the “hottest” real estate market on the Hill, beating out Palos Verdes Estates by a small margin. There are 100 single family homes for sale in RPV. 47 Rancho PV homes are in escrow with accepted offers, and 196 Rancho Palos Verdes homes have sold year-to-date.
Other Palos Verdes real estate snapshots for July 2018:
From a seller’s perspective, the luxury market and the Rolling Hills real estate market are the two “coolest” markets this month. Due to the higher price points and a slight increase in inventory those two markets favor buyers. Sellers can expect their properties to take longer to sell as well as have stiff competition in those two markets.
Seller Tip: Preparing your property for sale and pricing right are the keys to winning a reasonable offer from high-end buyers. To discuss call 310.493.8333 or email Norma@CharlemagneProperties.com.
Selling Palos Verdes Properties Since 1992