Real Estate Outlook

Palos Verdes real estate, Palos Verdes real estate statistics for 2009

Statistics for the month of October 2009 for Palos Verdes real estate are now available and they again indicate stability in our market.  The Active number of homes for sale in Palos Verdes have continued to decrease to an all time low (in the last 15 months) of 292 homes currently available for sale.   66 homes Sold/closed escrow in October and 76 homes have Pending Sales which is twice as...

   Yes, we do have foreclosures in Palos Verdes real estate.  Currently there are 2 active single family residences and 1 condo that are REOs (or bank-owned properties).   669 Via Del Monte, Palos Verdes Estates, is a 4 bedroom, 3 bath, 3,469 square foot home listed for $1,449,900.  4053 Via Pavion, Palos Verdes Estates, is a 4 bedroom, 3 bath, 2,336 square foot home listed for $999,900. ...

Statistics for the month of September for Palos Verdes real estate are now available and for the numbers indicate stability for the last 5 months.  As you will note from the graph above, the number of active single family homes for sale in Palos Verdes has been falling for the last several months and is an all time low (for the last 15 months) of 247.   For the month of September, there were 49...

More good news for Palos Verdes real estate! Southern California median home prices rose again for the fourth straight month as reported in the Los Angeles Times this week. "And although home values are still dropping in many neighborhoods, rising home sales and median prices are "all symptomatic of a bottoming out" and the worst days of the housing market are probably over, Leamer said." (UCLA...

Statistics for the month of August for Palos Verdes real estate are now available an for the third month in a row, the numbers are looking better. As you will note from the graph above, the number of active residential properties for sale in Palos Verdes have fallen from 434 August 2008 to 325 in August 2009. Additionally, for August 2009 both pending sales and sold/closed escrows have almost doubled...

Echoes of this oft-repeated question from our youth, are rumbling through the home buying community. Have we "hit bottom" in the Palos Verdes real estate market? Even the experts do not know. The Los Angeles Times August 17th edition tackled this subject regarding real estate in all of Southern California. There were several stories of "experts" who predicted the housing bubble, sold their own...

Statistics for single family homes for the month of July for Palos Verdes real estate are now available and for the second month in a row, the numbers are looking better. As you will note from the graph above, the number of active single family homes for sale in Palos Verdes have fallen from 437 July 2008 to 331 for July 2009. Pending sales climbed to 84 for July 2009 from 69 in June 2009 and way up...

I have written several articles in the last couple of weeks about the current status of Palos Verdes real estate. We have had better sales numbers in June compared to May. Now Peter Hong of the Los Angeles Times, who is usually ultra conservative, has written an article entitled, "Southern California median home prices surges in June". Could it be that we are finally turning the corner? Hong...

Statistics for single family homes for the month of June for Palos Verdes real estate are now available and as I indicated in my post earlier this week, "Good News for Palos Verdes Real Estate," the numbers are looking better. June 2009 had nearly twice as many closed sales (47) and one additional pending sale compared to May 2009. Months of inventory (months it would take to sell existing...