November 6th, 2020
There’s only one way to determine how any particular real estate market is doing and that is to understand the math in calculating the number of months of unsold inventory. A word of caution however, while the number for the most recent calculation is important, what is more important are the trends.
Are there higher highs and higher lows or are there lower highs and lower lows. The latter would suggest a market getting further and further out of balance with demand dominating supply thus affecting upward pressure on prices. The former would be the opposite result. Supply dominating demand would create downward pressure on prices.
How is the over $5,000,000 Palos Verdes Homes Market Place doing? This chart answers the question “Based on the rate at which homes are selling, how long will it take to sell existing levels of unsold inventory?” This is OBJECTIVE; it is FACT and NOT OPINION!
So, bookmark this page as the chart presented here will update live each month
Let’s read the minds of buyers searching like you … These are the homes real buyers right now have perceived as having value enough to offer on and buy. Link updates live each time you visit
I want to make sure you’re using at least one of these two utilities; it’s important because they are cutting edge in each of their categories and will help you be a smarter, more informed buyer, seller or owner of real estate. The second one’s importance is not so much the “value” component (let’s be honest, how accurate can a comptuer algorithm really be when nuancing “view”, “condition”, “micro-location” and/or “lot utility” variables), rather the importance in the results of the “big data” tech that informs you how many REAL buyers are actually searching NOW for a home matching your home’s characteristics! No other broker can do this for you and pay PLENTY to bring this service to my clients!