Happy New Year!
The spotlight is on Rolling Hills Estates single-family homes in today’s blog post. 71 Rolling Hills Estates single-family residences sold during 2017 per Multiple Listing Service records. The highest priced sale was $2,990,000 for a property in the Palos Verdes Drive North neighborhood. The least expensive purchase recorded in 2017 for a single-family home in RHE was $990,000 for a house in the Silver Spur neighborhood.
There are currently ten, yes only ten single-family homes for sale in Rolling Hills Estates. Inventory supply in Southern California is at a five year low, and the local Palos Verdes Peninsula market is no exception. As we welcome 2018, the seller’s market continues to thrive due to low inventory and steady demand.
Six Rolling Hills Estates single-family homes are in escrow with accepted offers. At the current absorption rate, there is less than a two month supply of available homes for sale. Buyers will be seeking fresh listings, and competition will be stiff for houses priced to sell. I see one of the biggest reasons properties linger on the market when conditions favor the seller is overpricing. Today’s buyers are savvy, most likely they’ve been tracking neighborhoods of interest for several months. They are well versed on value, and will not overpay in an already pricey market.
Now is an excellent time to sell, and since most economists predict the housing market is set to continue an upward trajectory, with only moderate cooling in 2018, it is also a smart time to buy.
If you would like to discuss either selling or buying a Rolling Hills Estates single-family home, call me at 310.493.8333, and I’ll help you sell for the highest price the market will bear, or assist you with buying at the lowest dollar a seller will accept. With an in-depth knowledge of the local Palos Verdes market, it would be my pleasure to help to achieve your 2018 real estate goals.
You can reach me at Norma@CharlemagneProperties.com or 310.493.8333