The seller’s market has deep roots on the Palos Verdes Peninsula. I know very few things last forever, but this real estate market is having one very long run!

There are currently 96 single-family homes for sale on the Palos Verdes Peninsula. There are 54 single-family residences in escrow with accepted offers. As of September 2023, 342 single-family properties closed escrow.

As a seller, this market still belongs to you unless you are overly optimistic about the value of your property. Price reductions are popping up more often. Buyers are savvy; they will pay top dollar for the right house but won’t overpay by much. Chasing the market down is the weakest position a seller can find himself in, so price right from day one, and you may still generate multiple offers, especially if your home is in tip-top showing condition.

As a buyer, consider your house as shelter first and an investment next. Buy the location you want to live in, or at least for the foreseeable future. Real estate is a market that fluctuates with the economic conditions just as the stock market does. In the long term, there will be ups and downs, but the primary benefit of shelter remains steadfast. Live where you love, and love where you live. The equity you will likely build over time is a bonus.

Selling the Palos Verdes Peninsula Since 1992

 

Norma Toering, Owner/Broker

310.493.8333 or No**********@***il.com

DRE: 01147470