Palos Verdes home sellers have enjoyed one of the longest-running seller’s markets in my memory. On the other hand, it’s been a long and frustrating quest for buyers in search of a Palos Verdes home to call their own. Many of my buyer clients have tried many times, only to be outbid by other buyers on the same frustrating house-hunting journey. I recently read in the Wall St. Journal about a property receiving 76 offers. I submitted an offer on a PV property that received more than 20 offers!
What’s a buyer to do? Wait. I know that’s not the advice you expect to hear from a real estate broker, but the market will react to the opening of the economy with a gradual increase in inventory as seller’s decide now is the time to catch the wave of a still hot real estate market. Quelled fears and rising interest rates will be key factors as more sellers prepare to open their doors to prospective buyers. Many homeowners are ready to realize their gains both in real estate owned and stock market appreciation. Likewise, the pandemic convinced many older workers to consider retiring sooner rather than later. These factors point to an increase in inventory for the local real estate market.
Every real estate submarket on the Palos Verdes Peninsula remains firmly entrenched in seller territory.
If now is the right time for you to sell your home, the market will welcome it with open arms and likely a few offers. It would be my pleasure to help you as you move from preparation to the completion of the sale.
You may reach me by text or call at 310.493.8333 or email Norma@CharlemagneProperties.com. Let’s get started!
Norma Toering, Broker/Owner, DRE 01147470
609 Deep Valley Drive, Suite 200, Rolling Hills Estates, CA 90274