If you fear you’ve missed the opportunity to purchase a luxury home in Palos Verdes, quell those fears. There are currently 63 luxury homes priced over $2,000,000 for sale in Palos Verdes. With twelve luxury homes in escrow and four closings during the month of July, there is still a five month supply of homes based on the current absorption rate.
These statistics clearly define the Palos Verdes luxury home market as a buyer’s market. Sellers rule for homes under $2,000,000 but not so for the high-end homes on The Hill. Yes, it is possible for seller and buyer favored markets to exist within the same local area.
The highest price paid for a Palos Verdes home during the month of July goes to 1704 Via Coronel, a 10,000 sq. ft. home with five bedrooms and seven bathrooms. The ocean view property in Palos Verdes Estates was built in 2004.
To purchase or sell a Palos Verdes luxury home contact Norma Toering & Team at 310.493.8333.
Palos Verdes Luxury Homes (over $5 million):
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