Palos Verdes Real Estate MARKET UPDATE (November 6, 2011) The market inventory of single family residences in Palos Verdes continued to decline to 223. The new listings during last week were 17 which is too many, but there have been also a large number of cancellations. Sales (escrow openings) slowed a bit to 9. The demand and supply gap is now below 133, and rapidly declining. This sharply improving demand-supply condition has not been translated into a higher price. Although inventory is relatively low, home prices are still very weak and given the approaching holiday season, prices may not start recovering in a meaningful way until early next year.Sales during last week were again led by lower priced property. The Rancho Palos Verdes West areas, conversely, are doing very well. With rates continuing to be favorable and the possibilty of the conforming loan level returning to $729K, we continue to believe that this represents a unique opportunity forPalos Verdes Real Estate. Please visit our FeaturedPalos Verdes Real Estate Listing Please read more in our popular blog with unique analysis and full of useful information.PV Brokers Real Estate Blog(As of 09:30, November 6, 2011) PRICE RANGE ACTIVE IN ESCROW E/A RATIO $700,000 -- $799,900 22 28 127% $8,000,000 -- $899,900 14 14 100% $900,000 -- $999,900 21 11 52% $1,000,000 -- $1,249,900 32 11 34% $1,250,000 -- $1,499,900 32 13 41% $1,500,000 -- $1,999,900 40 13 33% $2,000,000 -- $2,999,900 27 4 15% $3,000,000 -- 45 6 13% TOTAL 233 100 ↑ 43% MEDIAN PRICE (,000) $1495 $995 (Source: MLS) Townhomes and CondominiumsThe townhouse market continued doing well; the condo market suddenly got momentum. (E/A Ratio:townhomes- 82%; condos- 69%) Real Estate Tools and Research Visitwww.pvbrokers.net"Where Integrity Meets Experience" What's My Home Worth Search Homes For Sale Real Estate Articles and Trends Time to Buy Palos Verdes Real Estate? JOIN US ON FACEBOOKand follow us onTwitter! For more information onhomes for sale in Palos Verdes,Palos Verdes real estate,palos verdes homes for sale,palos verdes realtors,palos verdes real estate market informationas well as quality information onhomes for sale in Rancho Palos Verdes,Palos Verdes Estates homes for sale,Manhattan Beach real estate,HermosaBeach real estate,Redondo Beach real estate,Torrance real estate, Palos Verdes real estate trends,and real estate trends in the Beach Cities, Palos Verdes Estates and the South Bay, visit www.pvbrokers.net _____________________________________________________________ Become a fan! PV Brokers PV Brokers providesresidential real estateservices in the Los Angeles County South Bay communities ofPalos Verdes Estates, Palos Verdes Peninsula,Rancho Palos Verdes,Rolling Hills Estates,Rolling Hills, Redondo Beach, Hermosa Beach, Manhattan Beach, Torrance and San Pedro. As a boutique Realty, ourPalos Verdes Real Estate agentsandpalos verdes brokersare committed to giving our clients specialized service and attention. For more information onPalos Verdes real estate,palos verdes homes for sale, palos verdes foreclosures, homes for sale in Palos Verdes, palos verdes market information in addition to quality information on homes for sale, visitwww.pvbrokers.net. Bart Cleveland Broker Where Integrity Meets Experience 310.872.0778 c 310.684.3156 o www.pvbrokers.net www.palosverdesrealestateagents.net www.palosverdesrealtors.net
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