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

Fall is here! My morning walk required a sweater for the brisk 58-degree day. After the languid last days of summer, I think the real estate market is ready to perk up and make the most of the final quarter of 2017. I bumped into an agent who has been in the business longer than I have, and she said, "This has been the quietest summer I can remember."  Yes, although I was busy and productive with listings and sales, the market took a bit of a breather during the summer months of 2017.

Inventory remains tight with only 183 single family homes listed for sale. 89 Palos Verdes single family homes are in escrow with accepted offers, and 553 PV single family have sold year-to-date. The luxury market indicator shows a slow movement back to a neutral market after spending most of the summer in a market favoring buyers.  The Palos Verdes market for all single-family homes is showing a slight trend away from the hot sellers' market of the past several years.

For more information about buying or selling a home in Palos Verdes contact Norma Toering at 310.493.8333.

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 Homes Market Update April 2017

On the first day of April 2017, there were 166 single family homes for sale on the Palos Verdes Peninsula. This is a slight uptick in the number of homes for sale. Perhaps the increase in inventory can be attributed to the arrival of spring. However, I have noted high-end Palos Verdes homes are staying on the market a bit longer than in previous months. In the luxury market, there is currently a six-month supply of homes for sale based on the present rate of absorption.

April 2017 Palos Verdes Luxury Market Slider:

The market for homes priced under $3MM in Palos Verdes remains strong. There are currently 92 homes in escrow with accepted offers (including 10 residences in the luxury price range), and year-to-date 130 Palos Verdes single family homes have sold. Based on these statistics there is slightly less than a two-month supply of Palos Verdes single family homes for sale. These numbers translate to still-strong sellers' real estate market on the Palos Verdes Peninsula.

April 2017 Palos Verdes Single Family Home Market Slider:

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

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 Single Family Home Report for February 2017

There are currently two, yes two, single family homes for sale in Palos Verdes priced below $1MM. Both properties are located in the Eastview neighborhood of Rancho Palos Verdes. On the other hand, there are seven single family homes priced over $10MM currently for sale on the Palos Verdes Peninsula.  Five $10MM plus residences are located in Palos Verdes Estates, one is in Rolling Hills, and the other is located in Rancho Palos Verdes.

Our inventory is up slightly from last month but the demand by buyers who aspire to live in Palos Verdes still outstrips supply. Spring 2017 appears to be a good time to sell Palos Verdes property as interest rates are still low, historically speaking, and the value of Southern California coastal property continues to skyrocket.

February Update for Single Family Homes in Palos Verdes:

Active:  There are currently 138 single family residences for sale on the Palos Verdes Peninsula.

Pending Sales:  70 Palos Verdes properties are in escrow with accepted offers.

Sales Year-To-Date: 60 Palos Verdes single family homes transferred ownership since January 1, 2017.  Congratulations to all the new homeowners!

For more information about selling or buying property on the Palos Verdes Peninsula, 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

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

The Southern Coast of Palos Verdes - The "Resort" Lifestyle

Palos Verdes Drive South neighborhood real estate and home sales report for Rancho Palos Verdes, CA in October 2015.

The south side of Rancho Palos Verdes is fast becoming the resort side of the Palos Verdes Peninsula as the location is home to Terranea Resort and Trump national Golf Course. The neighborhood is graced with some of the most breathtaking view on the entire Palos Verdes Peninsula.

Palos Verdes Drive South homes for sale: (See all Rancho Palos Verdes homes for sale)

Norma Toering, Broker-Owner of Charlemagne Intl Properties
310-493-8333 - ToeringandTeam@gmail.com
- Rancho Palos Verdes Listing Broker Charlemagne

Palos Verdes Housing Market Indicator - Oct 2015