The real estate market in the City of Rancho Palos Verdes has not only stabilized but appears to be on an upward trend. Although average price per square foot appears to be very consistent over the last six months, even kicking up in September, the level of inventory of homes for sale is down and the average number of homes sold over the last 3 months has also increased.
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The number of homes for sale in Rancho Palos Verdes has decreased significntly compared to the comparable period last year, having dropped about 18% compared to last year. The monthly average number of properties sold during the last three months compared to the similar period last year has also gone up almost 36%. The number of months inventory, based upon the average monthly sales over the last 3 months ,has also decreased to approx. 4 months of inventory
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The average price per square foot for homes sold in Rancho Palos Verdes has been very consistent over the
last six months, but is down approx. 4% compared to last year, although the average price per square foot for homes sold in Septemer did increase over the prior average over the last 6 months The market does appear to have stabilized
over the last six months.
Combined with record low interest rates, now is an excellent time to consider buying a home.
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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.
