Demand remains high for Palos Verdes single family homes. Although inventory has increased slightly, the ever present demand from buyers who aspire to live on the Palos Verdes Peninsula gobbles up new listings with a seemingly insatiable hunger.
There are currently 218 single family homes for sale in Palos Verdes. That a small increase and it's good to see that number pass 200, but the other statistic that must be considered is 121 single family Palos Verdes residences are in escrow with accepted offers. At this rate of consumption, we will run out of inventory in less than two months unless new listings are added to the depleted supply.
Now is an excellent time to put your property on the market if you are considering selling. Palos Verdes remains in a marketing favoring sellers; interest rates are still enticing buyers, and prices have more than recovered from the recession and housing crash. This market won't last forever--nothing does--but it's here now and waiting for savvy sellers to take advantage of the near "perfect storm" scenario for those fortunate enough to have a property to sell in this market.
As we near the halfway point of 2016, 290 single family Palos Verdes homes have sold year-to-date. That number is substantially lower than the 710 total number of PV homes sold in 2015. Will we finish as strong in 2016? That is still to be determined, but current conditions indicate the Palos Verdes real estate market will continue its strong run through the summer months and well into the fall.
We hope you find this information of value and will pass it along to friends or family who may have a move in their future. We thank you in advance for trusting us to help people you care about with their important real estate decisions.
Don't hesitate to give us a call. We are standing by and ready to help you realize your real estate goals.
- Norma Toering - Broker
310-493-8333