Palos Verdes,CA Real Estate Market Report July 2017

Who needs fireworks when there are views like this one?

I hope everyone enjoyed the 4th of July holiday.

We have reached the midway point of 2017, and although the single family home real estate market in Palos Verdes remains a strong sellers' market, the luxury home market experienced a cooling trend during the second quarter of 2017. The luxury market of homes priced at $3,000,000 and up slide into a strong buyers' market.

There are 227 single family homes for sale in Palos Verdes.  109 Palos Verdes homes are in escrow with accepted offers.  343 Palos Verdes single family homes have sold Y-T-D.  Inventory is showing a slight increase and demand remains high keeping the overall single-family home market in a sellers' market.

Rancho Palos Verdes remodeled and expanded home for sale--$2,695,000. Represented by Charlemagne Int'l Properties. Call 310.493.8333 for details.

Palos Verdes Single Family Home Market Report for May 2017

Palos Verdes single family homes inventory slipped below 200 during April 2017.  There are currently 195 single family homes for sale on the entire Palos Verdes Peninsula.  123 Palos Verdes homes are in escrow with accepted offers, and 184 single family Palos Verdes homes sold year-to-date as of May 3, 2017.

These numbers tell us several things:  First, the single family home market in Palos Verdes remains a very strong sellers' market. Next, the high number of homes in escrow (123) prove buyers are not intimidated by the higher prices and perhaps the lack of inventory is nudging them into buying now rather than later. The number of homes sold year-to-date indicates Palos Verdes is on track to have a healthy real estate market during 2017.

For details about your neighborhood's real estate activity and how it measures up to performance in other Palos Verdes areas, contact me and I'll send you information specific to your neighborhood.

Palos Verdes CA Single Family Homes Market Report March 2017

Palos Verdes homes in Rancho Palos Verdes

Winter's chilly temperatures may still be with us, but the Palos Verdes single family home market is already heating up as spring approaches.  My "Yellow Slider" market indicator moved a couple of notches back toward a stronger sellers' market as we rolled into March 2017. However, the market index for the Palos Verdes luxury home market slipped deeper into the neutral zone.

However, single family inventory increased slightly (up from 131 homes to 147), and that's good news for spring buyers.

Coastal Homes in Palos Verdes CA

Here are the current statistics for the Palos Verdes Peninsula single family homes market:

147 Single Family Palos Verdes Homes are currently for sale.

85 Palos Verdes residences are in escrow with accepted offers.

76 Palos Verdes Single Family properties have closed escrow year-to-date 2017.

Seller Tip:  It appears the spring market will arrive early this year. Given the anticipated increase in interest rates, buyers are eager to lock in the lowest rate possible sooner rather than later. Make sure your property shows at its very best to ensure it competes well with other homes trying to win the hearts of buyers (and their offers) in your neighborhood.

There are many steps involved in selling a home.

Buyer Tip:  Make sure your lender letter is a pre-approval, not just a pre-qualification. A pre-approval letter will strengthen your offer and should be presented with your offer to purchase a property. It lets the seller know you are a qualified buyer and can close the sale, and that's likely a seller's top concern.

For more information about selling and buying a home on the Palos Verdes Peninsula contact Norma Toering at 310.493.8333 or email Norma@CharlemagneProperties.com

Palos Verdes CA Real Estate Market Update--December 2016

The Palos Verdes housing market is ending the year still entrenched in a sellers" market. Inventory remains low and demand is strong. At the current rate of absorption, and without additional new inventory to replace the sold properties, there is less than a two-month supply of homes for sale in Palos Verdes.

There are currently 166 single family homes for sale.  91 properties are in escrow with accepted offers, and year-to-date 641 Palos Verdes single family homes have sold.

 

 

A video posted by Norma Toering (@normatoering) on Dec 6, 2016 at 11:04am PST

Thank for your 2016 readership, your business, and referrals.  I wish you and your family a happy holiday season and a prosperous 2017. Please keep me in mind if you have real estate questions or needs in the New Year. Let's work together to make 2017 a fabulous year for your real estate portfolio.

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

Coastal Homes for Sale in Rancho Palos Verdes CA

I enjoy taking sunrise walks along the Palos Verdes coastline. Yesterday, by the time I reached the new luxury homes in various states of construction at The Estates at Trump National in Rancho Palos Verdes the sun was illuminating the row of new luxury homes, and I could not help but reach for my iPhone to capture the photo.

Per the Multiple Listing Service information, there are currently two homes for sale priced at $4,299,000 and $5,499,000 at The Estates at Trump National, and two residences in escrow, each priced at $4,499,000, with accepted offers. Records show one sale of $3,600,000 in the past six months for a luxury home on Emerald View Drive. After a slow start in 2005 and coping with the recession and housing market crisis, it appears sales are picking up at Trump National.

The coastal region of Rancho Palos Verdes has several areas of luxury properties with amazing ocean views.  However, The Estates at Trump National is one of the few places with lots for sale and also offering new construction for sale. The Palos Verdes Drive South area of Rancho Palos Verdes has become the resort side of the Palos Verdes Peninsula with both Trump National Golf Course and Terranea Resort. Real Estate in the area is benefiting from both additions to the Rancho Palos Verdes landscape.

For more information about luxury properties in Rancho Palos Verdes as well as all other areas on the Palos Verdes Peninsula contact Norma@CharlemagneProperties.com or NormaToering@gmail.com. You may call direct at 310.493.8333 with your real estate questions, wants, and needs. It will be my pleasure to share my knowledge of the area and years of experience in representing buyers and sellers with their Palos Verdes real estate transactions since 1992.

Palos Verdes Homes Price Range by City

Yesterday, while out and about on the Tuesday Tour of new listings I previewed single family homes for sale in Lunada Bay, Malaga Cove, and Palos Verdes Drive South. Those Tuesday Tours always remind me there is a wide variety of homes available for sale.  Just for fun, here is the highest and lowered priced single family homes for sale in each of the four cities located on the Palos Verdes Peninsula.

Palos Verdes Estates:

Lowest Price:  3428 Palos Verdes Drive North is a new listing in the Valmonte neighborhood of Palos Verdes Estates.  Better hurry at $1,150,000 this is the lowest price of any single family home currently for sale in PVE.

Highest Price:  There are currently three Palos Verdes Estates single family homes for sale priced over $10,000,000 but 705 Via La Cuesta's price tag of $28,000,000 is the highest priced PVE home on the market. The property has been on the market for over 200 days, but it has some amazing perks included in the price. I've toured the property, and very few Palos Verdes luxury homes can compare with the view, the grounds and the house.

Rancho Palos Verdes:

Lowest Price:  There are ten Rancho Palos Verdes single family homes for sale priced under $1,000,000. 2148 Dorado Drive is a fixer (maybe that should be in all caps) priced at $658,900. I don't know the "back story" on this property, but it appears the interior is in a state of partial remodel.

Highest Price:  3300 Palos Verdes Drive West is currently on the market with an asking price of $9,800,000. The coastal gated estate is approaching 800 days on the market.  I snapped some of my favorite luxury home photos from the windows of this villa.

Rolling Hills Estates:

Lowest Price:  4716 Rockbluff with a list price of $1,099,950 sports the lowest price for a single family home in Rolling Hills Estates.  The three-bedroom house shows over 100 days on the market.

Highest Price:  22 Hidden Valley Road with an asking price of $3,995,000 is currently the most expensive single family home on the market in RHE. The home has been on the market over 100 days.  The property includes a guest house and a salt water pool. Yes, I've previewed this luxury home as well.

Rolling Hills:

Highest Price:  1 Buggy Whip is not only the most expensive home listed for sale in Rolling Hills, but it is also the most expensive residence on the Palos Verdes Peninsula.  I spent an hour at the property and am sure there are still areas of the over 50,000 sq. ft. estate I did not see. The property is listed for $48,000,000.

Lowest Price:  23 Chuckwagon offers an opportunity to remodel a classic Rolling Hills ranch-style residence.  Asking price is $2,450,000. I see lots of potential in this one.

For more information on values and availability of properties on the Palos Verdes Peninsula give me a call.  I stay abreast of the ever-changing real estate market to help my sellers sell at the highest price the market will bear, and my buyers to purchase at the lowest price the market will permit.

Where in the World is Palos Verdes?

The Palos Verdes Peninsula is located in southern Los Angeles County in California, USA. The peninsula rises above the surrounding city earning it the local nickname of "The Hill." With the beautiful Pacific Ocean to the west and south, Palos Verdes is also adjacent to the South Bay cities of Torrance, Lomita and San Pedro. The "Beach Cities" of the South Bay are also nearby to the north including Redondo Beach, Hermosa Beach and Manhattan Beach. Palos Verdes has close access to the 405 Freeway and the 110 Freeway connecting to most freeways in the Los Angeles and Orange County areas.

As Los Angeles grew up in the era of the personal automobile, most residents track the distance to nearby CA events and locations by the common phrase; "How long does it take to drive there?" Palos Verdes is no different.  We rarely mention the distance to our destination, only the time required to arrive.

Palos Verdes' driving times to local landmarks:

Business
Los Angeles International Airport (LAX): 16.2 mi – about 28 mins
Long Beach Airport:20.1 mi – about 30 minsDowntown Los Angeles: 24.7 mi – about 34 mins (up to 55 mins in traffic)
Downtown Long Beach:12.5 mi – about 22 mins
Beverly Hills: 26.7 mi – about 40 mins (up to 1 hour 40 mins in traffic)

Shopping
Promenade on the Peninsula: located in Peninsula Center off Silver Spur in Palos Verdes
Peninsula Center Shopping Center: located in Peninsula Center off Silver Spur in Palos Verdes
Del Amo Fashion Center Mall: 3.8 mi – about 10 mins
South Bay Galleria Mall: 6.5 mi – about 16 mins
The Pike in Long Beach: 12.2 mi – about 22 mins
Fashion Island in Newport Beach: 42.3 mi – about 50 mins
The Grove in Los Angeles: 28.0 mi – about 43 mins (up to 1 hour 40 mins in traffic)
Hollywood & Highland: 30.7 mi – about 40 mins (up to 1 hour 20 mins in traffic)

Schools
Palos Verdes Unified School District: Located on the Palos Verdes Peninsula. 
Marymount College: located in Rancho Palos VerdesUniversity of California LA: 24.9 mi – about 37 mins (up to 1 hour 30 mins in traffic)
USC:26.1 mi – about 34 mins (up to 45 mins in traffic)
California State University at Long Beach: 22.4 mi – about 31 mins
California State University at Domingez Hills: 13.4 mi – about 22 mins
University of California at Irvine: 39.5 mi – about 48 mins
Loyola Marymount University: 18.1 mi – about 33 mins

Marinas and Ports
Port of Los Angeles: 7.8 mi – about 19 mins
Cabrillo Marina: 8.3 mi – about 19 mins
Redondo Beach Marina: 6.9 mi – about 16 mins

Beaches
Torrance Beach: 4.4 mi – about 11 mins
Hermosa Beach: 7.9 mi – about 18 mins
Manhattan Beach: 9.3 mi – about 21 mins
Newport Beach: 41.2 mi – about 49 mins
Laguna Beach: 52.4 mi – about 1 hour 3 mins
Malibu: 41.7 mi – about 59 mins (up to 1 hour 50 mins in traffic)

Skiing and Mountain Activities 
Big Bear Mountain: 117 mi – about 2 hours 23 mins
Mammoth Mountain: 335 mi – about 6 hours 27 mins

Amusement Parks 
Disneyland: 33.3 mi – about 40 mins (up to 50 mins in traffic)
Knott's Berry Farm: 27.9 mi – about 36 mins (up to 45 mins in traffic)
Six Flags Magic Mountain: 54.6 mi – about 1 hour 6 mins (up to 2 hours 40 mins in traffic)
Legoland: 90.7 mi – about 1 hour 34 mins
Sea World San Diego: 119 mi – about 2 hours 0 mins

Driving times will vary depending on current traffic conditions and the location in Palos Verdes you begin your trip. These times were calculated with Google Map's driving directions from the Palos Verdes zip codes of 90274 or 90275. Based on my experience, they are fairly accurate, until "rush hour" or an accident intervenes.   :)

Want more information about the Palos Verdes Peninsula?  Contact Norma Toering at 310.493.8333 or NormaToering@gmail.com

Palos Verdes Luxury Home Report--Listings & Sales--April 2016

 

 Spring is in the air! The birds are singing, buyers are calling, so let's check if sellers are listing their luxury homes, and if high-end luxury homes are selling in Palos Verdes.

There are currently 52 Palos Verdes luxury single family residences priced at or above $3,000,000 for sale. 8 Palos Verdes luxury homes ($3M+) are in escrow with accepted offers. 7 Palos Verdes luxury properties sold during the month of March 2016. Rancho Palos Verdes captured three luxury sales, Rolling Hills and Palos Verdes Estates each recorded two luxury residential sales in March.

 A quick glance at our market snapshot reveals the Palos Verdes luxury home market is in neutral territory indicating the luxury home segment of the housing market is stable favoring neither sellers nor buyers. Based on current inventory and rate of absorption the luxury home market has approximately a six-moth supply of luxury homes in Palos Verdes.

 

Thinking of selling? Need a top Palos Verdes real estate agent to help?  Contact us at Norma@charlemagneproperties.com or 310.493.8333. We offer free tips for sellers on how to maximize the value of your Palos Verdes property.

 

Norma & Josh Toering of Charlemagne Intl Properties

310-493-8333 or contact us via email

 A few reviews from our raving clients:

"We hired Norma when we bought our home 4 years ago and it was a wonderland experience. We stumbled on to her Palos Verdes Home blog website by chance when we were researching on buying a home in PV. We thought she was very knowledgeable and decided to set an appointment to meet with her. My wife and I were first time home buyers and Norma patiently educated us and walked us through all the options on what and where to look. Norm and her team gave us very knowledge feedback on our concern and also helped us through some troubling time when we had problems getting approval for a home loan. Finally she found us a wonderful home. It was initially outside of our price range but she negotiated hard for us and we got it! We would work with Norma again when we buy our next home." - Unsolicited Zillow Review from past client:

How likely are you to recommend Norma Toering? highly likely

Rate Norma Toering on specific characteristics

Local knowledge:

Process expertise:

Responsiveness:

Negotiation skills:

 

"I will give you a 10-star review! Where do I review?" - A long term client who we helped with 8 real estate deals!

“Thanks for being such a great agent on all our deals! I sure do appreciate more so that you are one heck of a professional in this field who has always had our best interest in mind.” - Carina in RPV (Wharton MBA)

“Thank you both for all your hard work. We had another pleasant experience with the Toering Team. You will be highly recommended in the future.” Steve S. in RPV

"What a fantastic team! I give Norma and Josh 10 out of 10 stars--best real estate experience I've ever had!" Steve K. in RPV.

If you're searching for a professional real estate agent and company who will keep your best interest in mind throughout the transaction, we'd love to add you to our list of lifelong satisfied clients.