Market Update

2024 Half Year Analysis – South Bay/Palos Verdes Real Estate Market

(3 minute read) We are just past the half year mark and when it comes to South Bay real estate, I have some upbeat news for homeowners and hopeful buyers. To begin with, prices, inventory levels, and sales volume increased compared to last year at this time. For buyers the good news is interest rates are showing signs of stabilizing and the month's supply of inventory has increased across most micro...

March 2024 South Bay Real Estate Update – EGBOK

EGBOK Does anyone remember this saying? "Everything's Gonna Be OK" was coined by the "Ken and Bob Company" morning radio program on KABC-AM Los Angeles, California (on the air from 1973–1990). I tell my kids this when they are stressed about something, and it applies to today in many ways as well. Sure, there are some scary things out there, but the world has been through worse. In terms of Real Estate,...

2024: A Balancing Act (and 2023 PV market recap)

Happy 2024!  I hope the year so far is off to a good start and you are excited for things to come.  I am grateful to get to call PV home, and am reminded daily of why this is such a special place to raise a family.  I was recently chatting with several parents while attending my son’s soccer game at PVIS in Lunada Bay.  Besides being a fantastic school, while standing at the field we had amazing...

December South Bay Real Estate Update: Mortgage Rate Relief, Inventory Remains Constrained

December 2023 South Bay Market Update Mortgage Rate Relief, Inventory Remains Constrained Resilient.  If asked to describe the South Bay real estate market in one word, it would be Resilient.  Despite attention grabbing headlines of doom and market busts, the local real estate market has faired well for 2023.  It hasn't been a year of price growth, but considering we have endured the highest...

Why Now May Be the Best Time To Buy Real Estate in Several Years

“Be fearful when others are greedy. Be greedy when others are fearful.”  Warren Buffett Based on a detailed review of the South Bay Real Estate Market,  I believe we are coming into a window of buying opportunities that we have not seen in several years.  The three key indicators that support my belief include the following: Days on Market have increased nearly 40% from a year prior; Months...

Summer South Bay Half-Time Market Report and 2nd Half Outlook

Hopefully you have had a chance to relax or have plans in the works for a vacation or some time off before school and schedules return to normal.  As for our family, we have a little road trip up the coast and some camping scheduled and I can’t wait to pack up the Sprinter Van and hit the open road.  For those that will be in town, I have included my favorite things to do in the South Bay during the...

Q: “How’s the Market?”  A: “It is still a seller’s market!”

June 2023 Market Update So far, 2023 has not brought the collapse in real estate values in the South Bay that many buyers were hoping for, and some economists even suggested.  Instead, buyers have adjusted to the higher interest rates and are letting life changes dictate their need to buy or sell real estate.  As we start summer, Inventory is hovering around 60% of pre-Covid seasonal levels...

Valmonte Spring 2023 Market Update: Who forgot to turn on the market this year?

What we are seeing across many submarkets in the South Bay is even more extreme in Palos Verdes and in particular, Valmonte - Sellers aren’t selling.  It’s not that they are trying to sell and properties are just sitting, it’s that would-be-sellers aren’t even attempting to sell.  Meanwhile, there are plenty of buyers waiting in anticipation for the right home to come available so they can settle...

Valmonte House Price Growth Months Hits 62.5%, Palos Verdes Estates 49% Since October 2020!

I almost didn't believe the stats, but after looking at it for a 3rd time, it's real.  Since October 2020, the median selling price in Palos Verdes Estates has grown by 49% from $1.88M to $2.8M (12 month moving average).  In Valmonte, the number is even more staggering where the median price grew 62.5% from $1.6M to $2.6M in the same time period.  But what does that mean moving forward?  For those that...

Q3 2022 South Bay Real Estate Market Recap

It’s human nature to want to know the future, to know what’s coming around the bend.  And there are plenty of people out there that make a living trying to predict it.  But the reality is, no one really knows.  Now more than ever, there’s lots of anticipation, maybe even anxiety, built into the economy, the stock market, and the real estate market.  It makes sense.  When things are going well...

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