Different Markets/Different Experiences

Palos Verdes Market Data Chart for 2010 Third Quarter for 90274 and 90275

Palos Verdes real estate single family residence sales results for the first three quarters of 2010 indicate a 5.5% increase in average sales price and a 10.4% increase in median price compared to 2009.  Number of transactions/sales also rose 31% compared to last year.  As I wrote in my post on October 11, 2010, statistics for  the month of September 2010 were even better than August (click here to view post).

Yesterday, the headline for an article in the Los Angeles Times declared “Homes Sales Remain Weak – September puchases in the Southland fall 16%. The median price rises slightly.”  When reading the entire article, there were some positive notes – in Southern California “Sales are up 81% from the last bottom, reached in Jauary 2008.” 

It is always wise to look at each city and specific neighborhood when buying or selling a home rather than comparing your home to regional statistics.  Palos Verdes itself has 4 different cities and many different neighborhoods which experience different buyer demand which determines the ultimate sales price.  Click here to view a larger version of  the above graph. 

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