Palos Verdes Coastal Homes January 2018 Market Report

Happy New Year!

The Palos Verdes single family home real estate market finished the year (2017) with low inventory and continued high demand. There are currently only 113 Palos Verdes single family homes for sale on the entire Palos Verdes Peninsula as we begin 2018. 56 Palos Verdes residences are in escrow with accepted offers. 692 Palos Verdes homes sold during 2017.

These statistics indicate we are in for another year of low inventory and high demand for single-family homes in Palos Verdes. Given the depleted supply of houses, the time is right to list your Palos Verdes home. There is no need to wait for the spring market, buyers are waiting for the right house to come on the market, and your home may be the one they are waiting to purchase.

Norma Toering 310.493.8333 or Norma@CharlemagneProperties.com

Palos Verdes Homes Market Report August 2017

The single-family housing market in Palos Verdes remains healthy, active, and still favoring sellers.


There are 212 single family homes for sale on the entire Palos Verdes Peninsula. 94 homes are in escrow with accepted offers, and 77 Palos Verdes single family homes sold during July 2017. 426 PV single family homes have sold YTD 2017.

Given the above statistics, the inventory is still low, and the absorption rate is high. If you're considering selling a Palos Verdes property, the market will welcome the increased inventory. The one area of the Palos Verdes real estate market favoring buyers is the luxury segment of homes priced at or above $3,000,000.

Rancho Palos Verdes high-end home listed by Charlemagne Int'l Properties.


For more information regarding selling or buying a Palos Verdes property contact Norma Toering at 310.493.8333 for a market analysis of your property. I also offer a free, one-hour assessment on enhancing the value of your property and preparing it for sale. Call for details.

Contact Norma Toering for more information on Palos Verdes homes for sale.

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 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):

Highly likely to recommend  

• Local knowledge: 5 Stars
• Process expertise: 5 Stars
• Responsiveness: 5 Stars
• Negotiation skills: 5 Stars

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...

Where Are the Most Expensive Luxury Homes in Rancho Palos Verdes?

Rancho Palos Verdes has some of the most exquisite coastal views on the entire Palos Verdes Peninsula.  The weather on the south side of Palos Verdes is reputed to be the most favorable on the entire peninsula. There's a reason the Palos Verdes Drive South neighborhood has become the resort side of the hill--views and weather are two critical factors.

Many of the most expensive luxury homes in Rancho Palos Verdes are located in the Palos Verdes Drive South and Palos Verdes Drive West areas.  PVDS has The Estates at Trump National, Terranea Resort with its vacation homes, and a plethora of large estates that hover in the hills or hug the coastline.  PVDW's coast is dominated by the Oceanfront Estates development at the intersection of Hawthorne Blvd. and PVDW. Marguerite Drive is tucked below the Drive near the border with Palos Verdes Estates and possesses some of the most desirable up close and personal oceanfront properties on the Palos Verdes Peninsula.

Most Expensive Luxury Homes in Rancho Palos Verdes:

15 Luxury Estates priced at or above $3,000,000 are currently for sale in Rancho Palos Verdes.  Eleven of these properties are located in either the PVDS or PVDW neighborhoods.  The other four high-end properties are scattered throughout Rancho Palos Verdes with two in the PVDE area.  The remaining two are on Yellow Brick Road and  Cartier Drive.

For more information regarding selling or purchasing a Rancho Palos Verdes luxury home contact Norma Toering at 310.493.8333 or Norma@CharlemagneProperties.com

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

When Is the Best Time of Year to Sell My Palos Verdes House?

 

Seller's Tip: No Need to Wait for Spring to List Your Home, This is Southern California!

 

 

 

Leave the winter mindset behind, after all, this is Southern California.  The freezing temperatures and snowy slopes are tucked away in the mountain resorts, and our coastal area is enjoying some very balmy Los Angeles days of 70+ degrees.  January or June, it does not really matter when you elect to place your property on the market in Southern California.





The timing of your sale is all about you, your schedule, your plans, and needs.  One of the advantages of living in Southern California is your decision to list and sell does not have to be based on the weather or the calendar.  Photos rarely reveal the season, buyers search for homes all year and the worst weather we have to contend with is a rainy day now and then. Although we would love to have a few more days and weeks of wet weather to end the prolonged drought.

One condition you may want to check before you list your property for sale is the local real estate climate.  Market conditions will have a far greater impact on the sale of your property than local weather conditions.







For more information on the local real estate market in your neighborhood contact me at 310.493.8333 and I will provide a free market update tailored to your specific property.

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.

What to Expect When You're Searching for a Coastal Home

Last week my business partner and I showed coastal property to an inland client. The first surprise (make that shock) was the price of a Palos Verdes coastal home with a view. Much to her chagrin the price tags of coastal homes clearly reflect they are not "on sale."

Due to the coastal location coupled with a sought-after public school system values have not plummeted on the Palos Verdes Peninsula. A quick review of recent sales the first quarter of 2010 show prices are up 4% compared to March 2009. Distressed property makes up a very small percentage of listings on the Palos Verdes Peninsula and has little to no impact on local values.

Since coastal homes are close to or front on the water, they often have a noticeable dampness or ocean odor (and this was a very wet winter), especially in any below grade or enclosed areas. If you're not accustomed to the ocean mist and fog this may be a disconcerting discovery. Once the rainy seasons ends the smell usually disappears when the Southern California sun returns for the days of summer.

A dehumidifier is a great way to counter unwanted dampness. Sometimes simply opening the windows and letting fresh air work its magic is sufficient to banish stale damp air. If you think the problem may require the help of a professional there are mold and mildew expects who can access your situation and suggest ways to remedy it.

Palos Verdes coastal homes range in price from under $1,000,000 to well over $10,000,000. The average price of Palos Verdes homes currently for sale is just over $2,000,000. With 17 major neighborhoods and many more micro areas there are many styles and locations to choose from.

From hillside villas to equestrian estates Palos Verdes is a coastal community with much to offer. Views range from peek-a-boo to panoramic. The proximity to the ocean's edge is never far and generally speaking, the closer to the water you buy the more it will cost.

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.

South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.

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