Tuesday, January 3, 2017
Palos Verdes Luxury Home Market Update for January 2017
The Palos Verdes luxury home market begins the year with thirty-nine single-family homes for sale priced over $3,000,000. Sixteen of those luxury residences are located in Palos Verdes Estates. Rolling Hills has twelve high-end properties on the market, Rancho Palos Verdes has nine single-family properties in the category, and Rolling Hills Estates has two luxury homes for sale over $3,000,000.
Eleven Palos Verdes luxury homes are currently in escrow with accepted offers.
56 Palos Verdes luxury properties sold during 2016.
Given the number of high-end homes on the active market and the rate of absorption, there is a four-month supply of luxury homes for sale in Palos Verdes. It will be interesting to see if the uptick in interest rates affect luxury home sales. My prediction is we will see a flurry of buyer activity in all price ranges during the first quarter of 2017 as they attempt to "beat" any additional planned rate hikes.
With nearly forty homes to choose from, higher prices, and an interest rate hike, sellers can expect buyers to be selective and exhibit high expectations when purchasing a luxury home in the $3,000,000 and up price range. The well-prepared home, priced right and presented in its best light will win buyers' hearts when they are in the market to purchase a Palos Verdes luxury home.
For more information or help with selling or buying a Palos Verdes luxury property contact me at 310.493.8333 or email Norma@CharlemagneProperties.com
My most recent testimonial (See more on Zillow):
Norma was referred to us by a good friend who was very satisfied with the service she provided in the purchase of his new home. When we first met with Norma, we were very impressed with her knowledge of the local housing market and her professionalism. As a result, we contracted with her to sell our property. Norma staged our home with her own decorator pieces to make the home more attractive to buyers. She held her first Open House a couple of days later and attracted close to 20 potential buyers .. this was the result of her smart advertising through various sources. We had several solid offers, and our house sold within the first week of listing. Norma kept us informed of the progress daily. In our 44 years of buying and selling 14 homes in Hawaii, Washington, and California, we have never had a real estate agent/broker as skilled and effective as Norma. She is positive, productive and such a joy to work with. I would select her over any other agent I have known and highly recommend her to friends and family. She sets the bar all other realtors should aspire to...