June 29th, 2019
There was an article written in the SoCalPatch that once proved something to me that I learned long ago as it applies the Palos Verdes Homes Market and for that matter, any niche real estate market place…
REAL ESTATE IS ALL LOCAL ~ PALOS VERDES HOMES
There’s a reason why the old saying in real estate has been true, is true now and will always be true … “Location, Location, Location!”
The article headlines with the statement “LA Home Prices And Sales Decline”. The California Association of Realtors stats show that the volume of sales dropped 2.8% last month compared to November of 2016 for Los Angeles county. In this, the whole of the Palos Verdes Peninsula patterned that of LA County but in a larger scale. Sale volume dropped about 12% in the 3 month time period of 5/1/2017-10/31/2017 vs 6/1/2017-11/30/2017.
The article also reports that home prices in Los Angeles County declined from $580,360 in October of 2017 to $530,920 in November; down 8.5%. However November’s median sale price was up about 9% from November of last year.
Did Palos Verdes homes follow similar patterns? No, they did not. The median price of a Palos Verdes home sold in the 5/2017-10/2017 time period was $1,485,000 while in the 6/2017-11/2017 time period it rose to $1,492,000.
If you’d like to see more LOCAL data on the Palos Verdes Homes Market, follow this link. There you will find charts and tables updated monthly with information that is more pertinent to what’s important … the LOCAL Palos Verdes homes real estate market.
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Call Realty Best Palos Verdes Homes, 433 Via Corta, Palos Verdes Estates, CA 90274 (424) 226-2147