Christmas Tree Cove in Palos Verdes

Palos Verdes luxury home market still favors buyers.

There are currently 155 single family homes for sale on the Palos Verdes Peninsula.  59 Palos Verdes luxury homes, priced over $2,000,000, are on the market and make up 38% of all single family Palos Verdes homes for sale.  With only four luxury home sales recorded for the month of July these number reveal the luxury market in Palos Verdes is still a great market for buyers.

 Palos Verdes home market in the $1,000,000 to $2,000,000 price range favors sellers.

There are 81 single family Palos Verdes homes for sale in the $1,000,000 to $2,000,000 price range with 67 homes in the price range currently in escrow with accepted offers.  52 Palos Verdes homes in the price range closed during the month of July 2012.  With less than two months of inventory, based on the current rate of absorption, the one to two million dollar price range remains a strong seller’s market.

 It’s a hot seller’s market for Palos Verdes homes priced under the magical $1,000,000.

Palos Verdes homes priced under the magical $1,000,000 are in high demand.  No question it is a hot seller’s market. With only 16 Palos Verdes homes priced under $1,000,000, 30 homes in the price range in escrow and 15 sales in July this price range is in a raging selller’s market.   Price matters when it come to determining whether a market favors buyers or sellers.

– Norma (310) 493-8333

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