At the beginning of February there were only five RHE and PVP single-family homes listed for sale. Six Rolling Hills Estates and Palos Verdes Peninsula properties were in escrow with accepted offers.
The number of houses in escrow outnumbers the supply of properties for sale. This market condition signals a very strong seller’s market for both Rolling Hills Estates and the unincorporated areas of the Palos Verdes Peninsula.
I’m not sure the market can handle higher demand, but two events may test the market in the near future–the uptick in demand as we approach the spring season, and the increasing supply of Covid vaccines contributing to buyers feeling it is becoming safer to tour homes. Unless the pace of new inventory increases the competition will increase and multiple offers will continue to drive prices higher.
If it’s the right time for you to sell, the market will welcome your property. If you would like to start the process of selling your property, don’t hesitate to give me a call at 310.493.8333 or email Norma@CharlemagneProperties.com and together we will reach your real estate goals.
Norma Toering, Broker/Owner at Charlemagne International Properties