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 Luxury Homes and Estates Report for February 2017

PVE Luxury Home View

There are currently 49 Palos Verdes luxury homes for sale priced at or over $3,000,000.

Where are these high-end homes located? Here is the location breakdown by the city:

Palos Verdes Estates:  20

Rancho Palos Verdes:  14

Rolling Hills:  13

Palos Verdes Peninsula (the unincorporated areas of the Palos Verdes Peninsula): 1

Rolling Hills Estates:  1

11 Palos Verdes luxury homes are in escrow with accepted offers.

Five Palos Verdes high-end homes sold YTD in 2017.

For more information on the Palos Verdes luxury home market contact Norma@CharlemagneProperties.com or 310.493.8333

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...

Time Works Its Magic on Rolling Hills Homes Values

 

 

 

What buyer, of any product, does not want to make a smart and savvy purchase?  Whether you're purchasing lipstick online because the same brand costs less on Amazon than it does at CVS (as I did this week), or you are making a multi-million dollar property purchase in Rolling Hills, there are few things higher on the satisfaction scale than knowing you made a savvy purchase.  But how do you know at the time it is the right thing to do?

 

 

 

 

 

 

The art of the real estate deal, in Donald Trump speak, is a cauldron mix of part science (sale statistics), part art (comparing apples and oranges takes a certain amount of finesse and market knowledge) and a dose of gamble (future value predictions are a mix of research and hoping current economic conditions don't waver excessively). Plus, let's not forget the unpredictability of Mother Nature.

 

 

When a buyer wants to ensure a decision to purchase is based on a solid foundation a review of historical sales is a good starting point.  An agent can quote percentage increases or decreases as was the case during the recession years, but the power of seeing it in black and white will add unquestionable weight to support the words.

 

 

Just for the fun of it let's look at time's effect on a few Rolling Hills property sales for 2014-2016:

2003 Sale price:  $3,220,000                    2014 Sale price:  $4,500,000

2002 Sale price:  $1,550,000                    2014 Sale price:   $2,438,500

1996 Sale price:   $1,269,000                     2014 Sale price:  $5,000,000

1989 Sale price:   $1,575,000                     2014 Sale price:  $6,650,000

1987 Sale price:   $1,925,000                     2015 Sale price:  $4,000,000

2004 Sale price:  $1,755,000                    2015 Sale price:   $4,500,000

2000 Sale price:  $2,179,000                    2015 Sale price:   $4,450,000

2010 Sale price:   $1,700,000                    2016 Sale price:  $5,200,000

2000 Sale price:  $3,747,500                    2016 Sale price:   $7,300,000

A quick glance reveals a buy and hold strategy is a wise one when it comes to Rolling Hills properties. These sale numbers do not consider any improvements made to the property.
Although a Rolling Hills property's primary purpose may be to provide shelter, over time it can provide not only an enviable lifestyle for family living but a solid return on investment as well.

Norma (310) 493-8333.  For more information about Rolling Hills properties, or to arrange your private showings call me 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.