Statistics for single family homes for the month of May for Palos Verdes real estate are now available. May 2009 had 5 less closed sales and 19 less pending sales than April 2009. Inventory of active listings/homes for sale fell to 281 in May. The average price for homes that closed in May fell 5.7% and the average days on market also decreased. For the month of May, there were 24 closed sales...
Statistics for single family homes for the month of April for Palos Verdes Real Estate are now available. April 2009 had 3 less closed sales and 5 less pending sales than March 2009. Inventory of active listings/homes for sale rose again slightly for the fourth consecutive month which is great for buyers. The average price for homes that closed in April increased 20%. For the month of April,...
Prices for Palos Verdes real estate have not been fluctuating as much as other areas. However, when one looks at the average price for single family residences at the end of March 2009 (1,259,000) compared to March 2008 ($1,608,000) there is a 27% decrease but what those numbers do not show is that the number of sales under $1,000,000 are currently the bulk of sales (40 out of total sales of 82...
What is the outlook for Palos Verdes real estate? I attended a forecast meeting presented by Robert A. Kleinhenz, Ph.D., Deputy Chief Economist for the California Association of Realtors. There was good news and "other" news. First the good news. Affordability for California is now at 60%; it was 23% in 2007. Interest rates are at historic lows and probably will remain at these levels through the...
Yesterday, both the Daily Breeze and Los Angeles Times had housing reports. The Daily Breeze headlined with "County home prices look to be stabilizing." Los Angeles County home sales made its third consecutive gain while prices remained stable leading some to believe that the market has "finally hit bottom." The lower end of the market is moving and the upper end is slower. For Palos Verdes real...
Statistics for single family homes for the month of March for Palos Verdes Real Estate are now available. March 2009 had more than twice as many sold/close escrows and slightly more pending sales than February 2009; the sold/pending numbers are down, however, when compared to March 2008. Inventory of active listings/homes for sale rose again for the third consecutive month which is great for buyers....
Statistics for single family homes for the month of February for Palos Verdes Real Estate are now available. February 2009 had less sold/closed escrows and less pending sales than January 2009 and had increased inventory of active listings/homes for sale. Additionally, February 2009 had half the number of sold/closed escrows and 70% less pending sales when compared to February 2008. For the month...
Statistics for single family homes for the month of January for Palos Verdes Real Estate are now available. January 2009 compared to January 2008 has the same number of sold/closed escrows, 1 additional pending escrow, and 46 more active listings/home for sale. Average price per square foot for homes that sold January 2009 is $494 compared to $545 last January. For the month of January, there...
Everyone wants to know how the Palos Verdes real estate market is doing. I am an optimist by nature so I have to check for facts before I give my opinion. Currently we have 32 properties that have sold/closed escrow since the first of the year compared to 23 properties this same time period in 2008. Additionally, there are currently 42 properties in escrow. So the Palos Verdes real estate market...
The numbers are in and owners of Palos Verdes Real Estate single family residences experienced a 6.2% decline in 2008 average sales price compared to 2007. That is actually not bad compared to the rest of Los Angeles County which was down about 28%. Home values on the Palos Verdes Peninsula have held fairly steady: 2008 was the first year of declines in recent memory. Palos Verdes homeowners...