You’re not alone if you are curious about the effect the Coronavirus Pandemic is having on the local real estate market. While history will record the complete story, early opinions project the impact on housing will be less severe than the effect on the stock market. Our homes have become our shelters from the storm raging throughout the world. It’s where we feel safe, and that emotional value is impossible to quantify with a dollar amount. Home is where many of us now work, school our children, and care for those we love. The value of “home” encompasses much more than a structure and the land beneath it. This intangible value of your real estate is impossible to measure, but it plays a vital role when assessing value.
Rancho Palos Verdes appears to be weathering the effects of the pandemic with aplomb. With 55 single-family homes for sale, 39 in escrow, and 106 single-family home sales year-to-date, the market has not paused to ponder the Coronavirus impact. Overall inventory is down from one year ago, but the number of sales year-to-date is up. High demand is an excellent price prop plus a stabilizing market condition.
More Palos Verdes Real Estate Snapshots for May 2020:
For more information about a neighborhood of interest, contact Norma Toering at 310.493.8333 or email Norma@CharlemagneProperties.com.
Selling Palos Verdes Properties Since 1992
Norma Toering, Broker/Owner
Charlemagne International Properties