Sunday, April 9, 2017
Palos Verdes Real Estate Market Update April 2017
On the first day of April 2017, there were 166 single family homes for sale on the Palos Verdes Peninsula. This is a slight uptick in the number of homes for sale. Perhaps the increase in inventory can be attributed to the arrival of spring. However, I have noted high-end Palos Verdes homes are staying on the market a bit longer than in previous months. In the luxury market, there is currently a six-month supply of homes for sale based on the present rate of absorption.
April 2017 Palos Verdes Luxury Market Slider:
The market for homes priced under $3MM in Palos Verdes remains strong. There are currently 92 homes in escrow with accepted offers (including 10 residences in the luxury price range), and year-to-date 130 Palos Verdes single family homes have sold. Based on these statistics there is slightly less than a two-month supply of Palos Verdes single family homes for sale. These numbers translate to still-strong sellers' real estate market on the Palos Verdes Peninsula.
April 2017 Palos Verdes Single Family Home Market Slider:
For more information about selling or buying a Palos Verdes home contact Norma Toering at 310.493.8333 or Norma@CharlemagneProperties.com