The City of Rancho Palos Verdes real estate market has been relatively strong . The number of homes listed for sale at the end of December decreased to 69 homes from 120 homes for sale in July, but is still 28% higher than the same time last year. The monthly average number of properties sold during the last three months of 30 homes, is up about 11% compared to the similar period last year . There are 28 homes in escrow at the end of the quarter . The number of months inventory is less than 3 months of inventory.
As noted in the chart below, the amount of time to sell a home during the last quarter was 2 to 3 months . Properties are selling at an average of 93% of their list price.
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Combined with continuing low interest rates, now is an excellent time to consider buying a home. For more market information , see market reports on my website.
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For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at https://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.