Some buyers wonder if it is time to take a seat and wait out the tight housing market. Real estate professionals point to low inventory–that old supply and demand rule from economics 101- when discussing why the seller’s market continues to rule the housing marketplace.  Most consumers often have no reference point for historical inventory levels; here’s the reality with real numbers. In October of 2019, 236 Palos Verdes single-family homes were for sale. Two years later, we have 76 single-family Palos Verdes homes for sale on the entire Peninsula.

Every submarket on the Palos Verdes Peninsula, except for Rolling Hills, remains in a strong seller’s market based on the statistics from earlier this month. Often, pending sales outnumber active listings.

October 2021 Real Estate Market Sliders:

 

As we move deeper into the fourth quarter of 2021, inventory is showing a slight increase, and a few more listings are receiving price reductions–both early signs of a slowing market.

 

For a detailed report on recent real estate activity in your neighborhood of residence or interest, contact Norma Toering at 310.493.8333 or email No***@*******************es.com.

Norma Toering, Broker/Owner

Charlemagne Intl Properties

DRE: 01147470