Palos Verdes Estates CA Real Estate News and Market Report Snippet
For the first time in over thirteen years the balance between listing volume (supply) and pending sale volume (demand) has turned positive. It’s unusual for Palos Verdes Estates CA Real Estate supply/demand balance to EVER (and the same is true for any market area in the South Bay) be in positive territory as there will always be a certain number of Palos Verdes homes that get listed that for whatever reason* just don’t sell.
That it is unusual for the balance between supply and demand for Palos Verdes Estates CA Real Estate be so high and hence positive for sellers of Palos Verdes Estates CA Real Estate is not the entire story, in fact it’s not the most important part of the story. Seeing this high level in perspective to what price trends were of Palos Verdes Estates homes the last time the balance ratio was this high compared to what the price trends are now for Palos Verdes Estates CA real estate – that is the really interesting thing.
Let’s understand this statement. It’s important. The red arrows are pointing at the times when my Palos Verdes Estates CA Real Estate supply demand PROPRIETARY indicator went positive. The last time was in August of 2000.
What happened with prices of Palos Verdes Estates CA Real Estate after August of 2000? Let’s take a look.
Palos Verdes Estates CA Real Estate Market Data
So now we have evidence based on historical fact that the Palos Verdes Estates CA Real Estate market could now be poised for another breakout price appreciation cycle.
Time will only tell of course and I certainly don’t possess any crystal ball. HOWEVER, there is someone a lot smarter than me that said, “That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.” ~Aldous Huxley
For both buyers and sellers of Palos Verdes Estates CA real estate, there are some important clues here and information to help you maximize your goals. If you’re a seller, be careful on relying too much on competitive sale values of homes more than 3 months ago; use of “comps” such as these may cause you to underprice your Palos Verdes Estates CA real estate. For buyers, have you wondered why you’ve been getting outbid and lost out on Palos Verdes homes on which you’ve offered? Other buyers are beating you because they know, long term, they are “stepping up to the plate” at price levels, yes more than what the comps would suggest, but at levels that will appear low in years to come.
This is a dynamic time in the Palos Verdes Estates CA real estate market … Keep checking in to this website and make sure to subscribe to my proprietary charts so that you too can have your finger on the pulse of the market. You will be more aware than 99% of the agents out there!
*usually they are over priced
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