The local Palos Verdes real estate market appears to be oblivious to world events (catastrophes, perhaps) as it continues to grow stronger as the summer progresses. Inventory is still shrinking, and demand remains steady.

A glance at my Little Yellow Slider shows it edging toward a more robust seller’s market as we enter August 2020. There are 133 Palos Verdes single-family homes for sale. 105 PV single-family residences are in escrow with accepted offers, and 297 single-family properties closed escrow thus far in 2020. Last year at this time, there were 271 homes for sale, 91 houses in escrow, and 370 single-family properties sold as of August 2019. The Little Yellow Dot hovered around “3,” indicating a weaker seller’s market than we are experiencing in the middle of a pandemic. No doubt, the reduced inventory is playing a vital role in the strength of today’s local real estate market.

 

More Palos Verdes Real Estate Snapshots for August 2020:

For more information about a neighborhood of interest, please contact Norma Toering at 310.493.8333 or email No***@*******************es.com. You may also submit the Contact Form below.

 

Selling Palos Verdes Properties Since 1992

Norma Toering, Broker/Owner

DRE:  01147470

 

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