Monday, November 7, 2011

Palos Verdes Real Estate Market Update | PV Brokers Residential


Palos Verdes Real Estate MARKET UPDATE (November 6, 2011)


The market inventory of single-family residences on the Palos Verdes Peninsula continued to decline to 223. The new listings during last week were 17 which is too many, but there have been also a large number of cancellations. Sales (escrow openings) slowed a bit to 9. The demand and supply gap is now below 133, and rapidly declining. This sharply improving demand-supply condition has not been translated into a higher price.

Although inventory is relatively low, home prices are still very weak and given the approaching holiday season, prices may not start recovering in a meaningful way until early next year.

Sales during last week were again led by lower priced property. The Rancho Palos Verdes West areas, conversely, are doing very well.

With rates continuing to be favorable and the possibilty of the conforming loan level returning to $729K, we continue to believe that this represents a unique opportunity for Palos Verdes Real Estate.

Please visit our Featured Palos Verdes Real Estate Listing

Please read more in our popular blog with unique analysis and full of useful information. PV Brokers Real Estate Blog

(As of 09:30, November 6, 2011)

$700,000 --  $799,900 22 28 127%
$8,000,000 --  $899,900 14 14 100%
$900,000 --  $999,900 21 11 52%
$1,000,000 --  $1,249,900 32 11 34%
$1,250,000 --  $1,499,900 32 13 41%
$1,500,000 --  $1,999,900 40 13 33%
$2,000,000 --  $2,999,900  27 4 15%
$3,000,000 --    45 6 13%
TOTAL 233 100 ↑ 43%
MEDIAN PRICE (,000) $1495 $995  
(Source: MLS)

Townhomes and Condominiums
The townhouse market continued doing well; the condo market suddenly got momentum. (E/A Ratio:townhomes- 82%; condos- 69%)



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PV Brokers provides residential real estate services in the Los Angeles County South Bay communities of Palos Verdes Estates, Palos Verdes Peninsula, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Redondo Beach, Hermosa Beach, Manhattan Beach, Torrance and San Pedro. As a boutique Realty, our Palos Verdes Real Estate agents and palos verdes brokers are committed to giving our clients specialized service and attention. For more information on Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, homes for sale in Palos Verdes, palos verdes market information in addition to quality information on homes for sale, visit .

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