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Play video to see what’s happening in the market. You can click the charts to see larger, more readable versions and use the link below to get more insight into the Palos Verdes real estate market
In every Palos Verdes home market except for Malaga Cove, the absorption of inventory has improved. The largest absorption improvement is found in the PVDS, Valmonte, Mira Catalina and La Cresta real estate markets. To dig a bit deeper into the numbers we really need to understand why the absorption numbers have improved so much in the last 12 months. Is it because demand (pending sale volume) has increased? Are there more buyers in the Palos Verdes home market? Or is it because supply (new listing volume) has dropped? Are there fewer sellers in the market? Or is it a combination of both factors.
What we’re finding is that nearly for all Palos Verdes homes market areas, inventory, ie SUPPLY, has dropped immensely. And at the same time, in most of the markets, demand has increased. Some areas experienced decreases in demand (pending sale volume); however, in these areas, supplies dropped off by a greater percentage making a net result of an increase in the absorption patterns. Bottom line, the market is firming up, prices are gelling and while no one can predict the future, this positive change is a welcome one for the Palos Verdes real estate market. For more information, please visit www.homeispalosverdes.com Here’s a great home for sale in the La Cresta area; one of the hottest markets now on the Palos Verdes Peninsula:
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