New season, new market? Perhaps the constant seller’s market we have lived with for many years is slowly morphing toward a neutral market favoring neither the seller nor the buyer. I’m ready for that change, and even with a more sustainable market, real estate will remain not only shelter but an excellent way to build generational wealth for homeowners on the Palos Verdes Peninsula.

There are currently 158 Palos Verdes single-family homes for sale on the entire Palos Verdes Peninsula. 59 PV single-family homes are in escrow with accepted offers, and 255 Palos Verdes houses have sold year to date in 2024.

The luxury homes market, those homes priced at or above $5,000,000, now favors buyers as there are 37 luxury properties for sale and only three PV luxury estates in escrow with accepted offers.

Market shifts always bring a few changes to the current real estate market. Sellers can expect properties to remain on the market a bit longer due to the increased inventory, and buyers can expect to have a few more choices when shopping for their Palos Verdes home. In my experience and opinion, it’s always a good time to buy or sell a Palos Verdes property.

Enjoy your summer!