Hot Spots in the Housing Market
By Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A.
(Charlemagne International Properties)
Studying statistics can be drier than a day in the desert. I'll do my best to make these numbers curl up beside you and and become meaningful in a monetary way. There are 288 single family homes for sale in Palos Verdes. 47 homes are in escrow and 55 homes sold YTD. These numbers reflect roughly a six month supply of homes at the current absorption rate. However, homes priced below $1,000,000 are hot commodities while homes priced over $2,000,000 are racking up triple digit days on market statistics. First, if you are a 1st time buyer the minute you finish reading this put on your shopping shoes. Your mini bailout tax credit of $8,000 is waiting for you to pull the trigger on a purchase, and if you do not act in time, you lose it. Good things do not last forever. The deadline i...
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