Palos Verdes Estates Homes in the lower price ranges for the area obviously tend to be the smaller homes in the area
At the same time even though you may be looking for the homes in the lowest price ranges for Palos Verdes Estates, you still want to get the most home for the money. Sometimes that might mean finding a Palos Verdes Estates homes that is less ideally located relative to other Palos Verdes Estates homes; for example a location on Palos Verdes Drive West. Or that might mean considering Palos Verdes Estates homes with inferior condition relative to other homes.
It’s always a trade-off isn’t it? In fact, even when I’m working with my clients shopping Palos Verdes Estates homes in the highest price ranges, there is no perfect home.
The market is behaving differently for smaller Palos Verdes Estates Homes compared to larger Palos Verdes Estates homes, but the one common factor in both categories is that supply/demand changes fuel the changes. As is a common theme in most of my analyses, real estate being a commodity like any other has price determined by the dynamics of supply and demand.
click the chart to sign up for my proprietary Palos Verdes Estates market charts
Palos Verdes Estates Homes Supply Picture
Clearly the huge and glaring factor effecting prices for Palos Verdes Estates homes is the abysmal lack of supply. We are seeing levels of new listing volume not seen in over 20 years Getting right to the point here per the title of this blog post, what IS going on with Palos Verdes Estates homes in the affordable price ranges (as defined by homes under 2100sqft)
Prices for this category of home has gone up over 15% in the last year. The moral of the story here is that the market is always changing and it looks like from the “tone” of the supply/demand changes, that we’re entering another price appreciation cycle. What prices will be a year from now is a question I will leave for those with a better crystal ball than me.
But, if I were a betting person, I would say that the odds are much greater that prices will be higher than they are now. But how have the more expensive Palos Verdes homes performed? How have prices changed for them relative to the lower priced Palos Verdes homes? If you would like to see the two trend lines together in one chart showing the price changes of both category of homes over the last 10 years; send me an email or give me a call. To search for Palos Verdes Estates homes, feel welcome to use this free search tool
+George Fotion George Fotion, HomeIsPalosVerdes.com Original content is at http://www.homeispalosverdes.com/affordable-palos-verdes-estates-homes