December 26, 2021

When a market is moving fast, either up or down, what becomes more important than studying past closed sales, is observing which homes real buyers found enough value in NOW to offer and go into contract. These are the homes now in escrow and they tell you more about what the market is doing now than studying homes that are for sale or homes that have closed escrow. Play the video and scroll down to see the real time updated lists (separated into price ranges)

Homes that have closed escrow, while important to study relative to the type of home you’re looking to buy or compare to what you’re looking to sell, “only” tell you how buyers behaved months ago. That may or may not be pertinent to how buyers are behaving today against who you are competing if you’re buying or who you’re wishing to attract if you’re selling.

And let’s face it, active listings may be only sellers’ delusions as to what they perceive is the market. The hardest things to accept for sellers - trust me, I know, I’ve been one - is to understand that a property is worth only what a buyer is willing to pay. Too many sellers make the mistake of countering an offer too aggressively and losing the buyer. Think about this carefully, if you’re a seller and are countering a buyer, what are you really doing? Really think about that question. What you’re really doing is BUYING BACK YOUR OWN PROPERTY AT THE PRICE YOU COUNTERED. Are you willing to take that risk? Do you really believe once you buy it back, that the odds are in your favor another buyer is willing to pay more? For buyers, studying active listings is important for the obvious reason that these are the homes which are available (Are there homes not active on the market that create more options for you?)

So if you REALLY want to have your finger on the pulse of the market, study the homes now in escrow. What’s the best way to do that? Is there a “one stop shop” that you can click on which will update automatically each time you visit with all the most recently escrowed Palos Verdes homes? Yes, and you’ve found the page. Book mark this page and refer to it as often as you wish. It will automatically give you the real time data on the… Click here if the list below doesn’t display (this link will display ALL the properties in ALL price ranges sorted by most recently escrowed at top. The sections below are in groups of price ranges beginning with $1.0MM-$2.0MM)