June 29th, 2019
There are lots and lots of opinions and the answer you get from most real estate agents is at best vague and at worst, just wrong. Is there a way to objectively answer “Is the Palos Verdes Housing Market still HOT?”
Well, there sure is, let’s take a look. But first, let’s understand that quantifying a real estate market where prices vary from $1,000,000 to over $20,000,000 is hard to do. Would anyone argue against the statement that the $1,000,000 market reacts differently than the $10,000,000 market?
What if we could segment any market into quadrants such as the top 25%, and so on down to the lowest price 25% of homes? That would be a great idea wouldn’t it?
Below the charts here presented, I link to two homes in the lowest 25% of the price range for Palos Verdes Estates homes and Rancho Palos Verdes homes. Take a look when you have a moment. Videos are on their respective sites.
Now, on with the facts. As of the time of this post’s creation, you will see that the Palos Verdes Estates market for the lowest 25% of Palos Verdes Estates homes is at about the “hottest” ever. It’s clear that with this amount of imbalance with not enough supply to satisfy demand, prices are likely to continue to appreciate for the foreseeable future. Does this make sense for you? Let me know by writing a comment below. Click on the charts to get additional metrics. Also, introduce yourself to my AI bot on lower right corner of the screen. Test how smart it is.
Palos Verdes Estates Market Trends
Rancho Palos Verdes Market Trends
Rolling Hills Market Trends