Coldwell Banker: Palos Verdes - Beach Cities Market Update
Like many other communities the Palos Verdes Peninsula is experiencing a shortage of inventory. There are still an abundance of buyers in most price ranges which equates to multiple offers on well-priced properties. Sellers that are pricing their properties aggressively are often seeing full price and over full price offers.
In the 3rd quarter we experienced an almost 1.5% positive change in units old when comparing 2013 to 2104 for single family homes. In 2014, 208 homes sold compared to 205 in 2013. The average price change also showed an uptick of just over 15% to almost $1.7 million and the average price per square foot rose almost 9% to about $578 per square foot.
By: Gary Fleishman
