Monday, November 7, 2016
Palos Verdes Coastal Homes Market Report--November 2016
Oops, it happened again. The number of available Palos Verdes single-family homes for sale dropped below 200. The shrinking supply pushed the market toward an even stronger sellers' market. Similar market trends apply to the Beach Cities real estate market as well. Low inventory has become our new normal. At the current rate of absorption, Palos Verdes has less than two months of available inventory and the Beach Cities has just over six weeks, yes weeks, unless new listings are added.
Palos Verdes Real Estate Market Report for Single-Family Homes:
187 Palos Verdes single family homes are for sale.
102 Single-family properties are under contract with accepted offers.
584 Palos Verdes single-family residences closed escrow YTD.
Beach Cities Single-Family Homes Real Estate Market Report for November 2016:
140 Single-family homes are for sale in the Beach Cities of Manhattan, Hermosa, and Redondo.
87 Beach Cities single-family residences are under contract with accepted offers.
674 Single-family sold