January 2012 I went out on a limb and predicted, “2012 will be the best year since 2007 for Palos Verdes homeowners to consider selling a property.” At press time January 2012 there were 166 single family Palos Verdes homes for sale. January 2013 showed 108 PV single family houses for sale. Over 600 Palos Verdes single family homes sold in 2012. 2012 was the year of the comeback for Palos Verdes real estate. The numbers for 2013 are even stronger. Over 700 Palos Verdes single family homes sold in 2013. The local housing market has rebounded and I predict 2014 will be the year of stabilization.
The lack of inventory looms large over the local housing market for 2014. Today, January 6, 2014, the MLS revealed only 97 single family homes for sale on the entire Palos Verdes Peninsula. Now is an excellent time to sell a Palos Verdes property. Interest rates are still attractive and demand remains high. If rates rise, and they will, some buyers will take a seat on the sidelines as rising prices and interest rates price them out of the market.