Whether the market is appreciating, depreciating or just moving sideways, the question I get most often over my nearly 42 years serving clients of Palos Verdes homes and Beach Cities real estate is …

HOW’S THE MARKET GEORGE?

I’ve heard hundreds of real estate agents over my years struggle with answering that question.  The struggle isn’t so much that they don’t know the answer, and often times, they really don’t know as they’re a part time agent or for many different reasons otherwise not plugged in to the facts.  Rather the struggle is that they’re trying to frame their answer around what they think the person asking, wants to hear or worse, they’re trying to frame their answer in such a way as to influence a decision from the person who’s asking the question.

If you think about it, sadly, that’s not a surprise.  Forbes reported on the trustworthiness of various professions not to long ago and real estate agents didn’t rank well.  I found some solace in the fact that we, as a group, ranked higher than members of Congress but perhaps that not really saying a whole lot. 

There are so many things I’ve learned serving my clients, and one of the most important lessons is simply the benefits of representing the facts.  Creating an environment in which my clients can process, objectively, the information presented so that they can make decisions without my influence, makes for a more long lasting and stress free business relationship with people.  Of course that means finding reliable sources that people can trust and that usually means … looking at the numbers. 

As the old saying goes, “…the numbers don’t lie…” and they don’t.  They are what they are; good, bad, indifferent. 

What ARE the numbers then for the Palos Verdes Homes real estate market?

We want to understand the forces of supply and demand and as such use that understanding to draw conclusions as to what might happen next for Palos Verdes home values.  What are the numbers for which we want to keep keenly aware?  First let’s define the market.  I’m presenting here for your study, the “Palos Verdes Peninsula Single Family Residence” market.  I’m eliminating, for statistical validity, what is known as the Eastview section of Palos Verdes; that area which used to be San Pedro and which was annexed by Rancho Palos Verdes not too long ago.

• Supply of homes on the market

• Demand for homes: The number of months of unsold inventory which answers the question, “Based on the rate at which homes are selling, how long will it take to sell existing levels of unsold inventory?”

• Median Sale Price Per Square Foot

• Median % of List Price at which Palos Verdes homes sold

Scroll down to the charts below

These four facts best represent in a factual way, how the market is doing.  You’re invited to check in to this site every month as these charts are interactive and real time.  They will update automatically.  In the event they do not display correctly, make sure to contact me to update the code.  Sometimes they need to be refreshed. 

Here’s where, now that I’ve provided some valuable and actionable information that will help you understand the facts of the market, I will ask you for something in return.  I’d very much like to get your opinion on this presentation.  Do you find this information useful?  How would you use it to your benefit in making real estate decisions in the future?  Take a moment and fill out the form below so that we can set an appointment either to meet for coffee and talk about it, or jump on a zoom call.  The additional benefit to you is that whereas this information is Palos Verdes Peninsula wide, I have similar charts for your specific multiple listing service area.  Whether you live in the Lunada Bay area of Palos Verdes Estates, or the Tree Section of Manhattan Beach, you will find each market different from another.  Let’s explore how supply/demand forces in your neighborhood are affecting your home’s value, or if you’re considering buying a home in Palos Verdes or buying a home in the Beach Cities, get the information to help you strategize. 

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George, I want info on MY neighborhood