The single family home market for Palos Verdes Estates struggle during the 1st quarter of 2019. There are 66 homes listed for sale in the City of Palos Verdes Estates at the end of March , which is 38% higher than this time a year ago. The number of homes sold over the last 3 months, averaging only 9 sales per month, is 35% lower compared to the same period last year . This equates to almost 7 months of inventory, based on the average sales per month over the last 3 months. There are 19 homes in escrow at the end of March, however, the most since June last year.       The average price per square foot over the last 3 months has been $757 per sq. ft. a 4% decrease over the similar period last year.   The average days on market for homes sold during the quarter was about 2 months.The perc... 04/15/2019

Summary: The number of homes listed for sale on the Palos Verdes Peninsula of 155 homes is 19% higher than last year and the number of homes sold during the last three months is 1% higher compared to the prior year, resulting in unsold inventory of 4 months supply. Prices per square foot are down approx. 2% compared to the prior year's quarterly average. Lower priced homes are moving faster than the upper end of the market. The market has also been very active with houses taking 1 to  2 months to sell.The number of properties listed for sale for the overall Palos Verdes Peninsula at the end of December of 155 properties is 19% higher than at the same time last year, and the average number of homes sold per month of 45 over the last 3 months is 1% higher than the comparable period last y... 01/11/2019

On November 27, 2018 The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019.    The loan limit effective 1/1/19 for a conforming loan is $484,350(previously $453,100). For certain high cost areas such as Los Angeles there is a higher limit for so-called "Jumbo conforming loans"  between $484,350 and $726,525  (previously $679,650  ).   Jumbo loans in excess of $726,525 also require a much higher down payment of 25 to 30%. The new FHA limit for FHA guaranteed loans for 2019 have not been announced. 12/04/2018

Mortgage interest rates for buying a home on the Palos Verdes Peninsula rose significantly this week. The following are excerpts from the newsletter on interest rates published by HSH Associates :" It's certainly hard to ignore the noise surrounding the biggest spike in mortgage rates since November 2013, let alone that the run up puts 30-year fixed-rates at more than seven year highs.No one should be surprised that interest rates are rising, even though the speed or size of the move may have caught some off guard. Economic growth has been very strong for a while now, job growth continues apace, inflation has made its way back to the Fed's desired levels, and the Fed itself is not only continuing on a path of raising rates and trimming its balance sheet but is no longer providing the ki... 10/13/2018

 There are 48 homes listed for sale in the City of Palos Verdes Estates at the end of March , which is 7% lower than this time a year ago. The number of homes sold over the last 3 months, averaging 14 sales per month, is 20% lower compared to the same period last year . This equates to a bit over 3 months of inventory, based on the average sales per month over the last 3 months. There are 16 homes in escrow at the end of March with contingencies waived.  The following are the 41 properties sold in Palos Verdes Estates during the 1st quarter of 2017:       The average price per square foot over the last 3 months has been $736 per sq. ft. a 1% increase over the similar period last year.   The average days on market for homes sold during last 3 months was about 2 months. The percentage of ... 04/21/2018

Interest rates for buying a home on the Palos Verdes Peninsula moved up a bit this week . The following are excerpts from the newsletter on interest rates published by HSH Associates :"Bond markets exhibited a little bit of nervousness this week, and as is often the case, mortgage rates are firming as a result. The ongoing accumulation of solid economic news both ere and abroad plus some new concerns about inflation were enough to unsettle investors who have come to enjoy the reliability of low inflation and global central bank support.There continue to be signals that the long run for extraordinary quantitative easing is coming to an end soon. The U.S. has already started down a path of undoing its programs, and in fact is accelerating the process this month. The influential yield on t... 01/14/2018

 There are 56 homes listed for sale in the City of Palos Verdes Estates at the end of September, which is 3% less than this time a year ago. The number of homes sold over the last 3 months, averaging 17 sales per month, is 18% higher compared to the same period last year . This equates to a bit over 3 months of inventory, based on the average sales per month over the last 3 months. There are 11 homes in escrow at the end of September showing weakening sales activity.  The following are the 52 properties sold in Palos Verdes Estates during the 3rd quarter of 2017:     The average price per square foot over the last 3 months has been $726 per sq. ft. a 4% decrease over the similar period last year.   The average days on market for homes sold during last 3 months was about 1 to 2 months. T... 10/25/2017