Los Angeles Coastal Luxury Home Market--Stagnant, Slow or Selling?

No ones denies the housing market is a challenging mix of distressed properties (bank owned and short sales) with stressed out sellers, and a bevy of hesitant buyers with minimal confidence in the market.  In times of conflicting, and often confusing data, I've always found the most trusted source to be actual sales.  Rarely are these numbers massaged to represent the interest of a person who can gain from an inflated number.  Home sales are recorded, and records can be verified.  There is comfort in knowing the statistics for actual closed sales.
Los Angeles County has many luxury, high-end housing markets, but this article will focus on the southern coastal cities of Los Angeles County beginning with luxury home sales on the Palos Verdes Peninsula this year.
Luxury Home Sales ($3,000,000 and up) 2011 YTD:
Palos Verdes Estates:  12 Single family high-end luxury homes closed escrow priced over $3M with the highest price being $9,150,000.
Rolling Hills:  8 Single family high-end luxury homes closed escrow priced over $3M with the highest price being $7,250,000.
Rancho Palos Verdes:  6 Single family high-end luxury homes closed escrow priced over $3M with the higest price being $7,425,000.
Rolling Hills Estates:  No closed sales meeting the criteria.
The Beach Cities of Redondo, Hermosa and Manhattan are home to many gorgeous coastal homes.  Here are the closed sales for high-end luxury homes:
Manhattan Beach:  28 Single family high-end luxury homes closed escrow priced over $3M with the highest price being $4,653,000.
Hermosa Beach:  5 Single family high-end luxury homes closed escrow priced over $3M with the highest price being $12,600,000.
Redondo Beach:  No closed sales meeting the criteria.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle- Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Chosen by MovingCost.com as one of the best Los Angeles realty blogs. Awarded 5 out of 5 stars by Lender411 blog review.  Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

      

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