Wow, only 14 Rolling Hills properties are currently listed for sale! Two RH residences are in escrow, and two Rolling Hills homes sold in 2019 as of February 1. I expect there will be several new listings as the Spring Market approaches. More Palos Verdes Real Estate Snapshots for February 2019: Norma Toering Broker-Owner 310.493.8333 Selling Palos Verdes Properties Since 1992
Happy New Year! 2019 will be a test for the strength of the local real estate market. After several years of a market favoring sellers, the balance is shifting to a neutral market favoring neither the seller nor the buyer in most of the sub-markets on the Palos Verdes Peninsula. Will the market stabilize in the neutral zone, or will it continue to edge toward a full-blown buyer's market? Time and economic conditions will tell. There are 148 Palos Verdes single-family properties listed for sale. 34 PV homes are in escrow with accepted offers. 646 Palos Verdes single-family homes sold [...]
Oops, it happened again. The number of available Palos Verdes single-family homes for sale dropped below 200. The shrinking supply pushed the market toward an even stronger sellers' market. Similar market trends apply to the Beach Cities real estate market as well. Low inventory has become our new normal. At the current rate of absorption, Palos Verdes has less than two months of available inventory and the Beach Cities has just over six weeks, yes weeks, unless new listings are added. Palos Verdes Real Estate Market Report for Single-Family Homes: 187 Palos Verdes single family homes are for sale. 102 [...]
As I write this article there are 233 single-family homes for sale on the Palos Verdes Peninsula. Inventory continues to show a slight increase, however, demand remains strong thus keeping the overall real estate market tilted slightly in favor of sellers. Such is no longer the case for Palos Verdes luxury properties. Palos Verdes real estate Update for September 2016: 233 Palos Verdes single-family homes are currently listed for sale. 80 Palos Verdes single-family residences are in escrow with accepted offers. 489 Palos Verdes single family properties sold year-to-date in 2016. If you would like to know what's happening [...]
It's not too late to catch the wave! August is often accompanied by a slowing of the real estate market. After all, it is the last month of summer vacation, and the back-to-school rush is upon us as well. It is no surprise house hunting often falls lower on the priority list. However, it is not too late to catch the strong real estate market wave Palos Verdes continues to enjoy. The luxury market is defined (by me) as those homes priced at or above $3,000,000. At the current time, properties in the luxury price range comprise nearly [...]
Whether you are selecting a Palos Verdes Realtor to sell your home or help you purchase a home on the Palos Verdes Peninsula, it's equally important the person you select possess both knowledge of the area and the experience to give you the highest and best representation. In our opinion, there's no better way to know the market than to keep your eyes on the market by analyzing real estate statistics (listings, pending sales and closed sales) each month. Such knowledge benefits sellers, buyers and the agent. It is equally important to be able to decipher what those numbers are [...]
According to RE-Insider in an article published 8/14/14, the luxury real estate market is outpacing the rest of the California housing market by a wide margin. "While home sales throughout much of California have remained flat throughout this spring and early summer, a new study has indicated that multimillion dollar homes are selling in record numbers, offering hope that the market is still improving and prompting many to wonder what’s holding the rest of the market back." The article went on to state the 2014 luxury home market year to date is up over 9% from 2013 numbers. On the [...]
This year is zipping by--it's mid July and time to take a glance back at what's happening in the Palos Verdes housing market. Let's check out the highs and lows, what cities are posting the most sales and other real estate tidbits that may help us gauge not only the level of real estate activity during the first half of 2014 but also be a strong indicator of what the next six month may bring. If you're thinking of either selling or buying a Palos Verdes property these real estate facts may be a valuable resource. Lowest Price Palos Verdes [...]
International buyers snapped up $92.2 billion of property in the United States from April 2013 to March 2014. The number for the previous year was $68.2 according to the National Association of Realtors. The growth is attributed to better exchange rates, lower real estate prices and increasing affluence of foreign buyers. Other interesting tidbits about where and what the international set is purchasing in the United States: Four states accounted for 55% of the sales--Florida, California, Arizona and Texas. Top city online searches by international buyers were Los Angeles, Miami, Las Vegas, Orlando and New York City. Nearly 60% of [...]
Palos Verdes Market Update - Summer 2013 If you only have a couple minutes for a Palos Verdes housing market update listen and watch this short video. It's full of good news, year over year increases for each of the four cities located on the Palos Verdes Peninsula, plus a short rundown on number of homes in escrow, for sale and sold during the month of August 2013.
