Single family home sales in RPV saw green arrows across the board with the exception of average price, down to $1,563,683 compared to $1,674,500 for the month of April. Although this is a drop of over $110k, days on market dropped from 33 days in April to 28 for the month of May.
Condominiums and Townhouses experienced a drop in number of listings sold, down to 7 for May compared to 8 in April. However, volume sold only dropped by $90k, pushing the average price to just under $820k. These numbers are skewed due to the fact that one particular condo sold for over a million dollars and was on the market for 170 days. Another condo that closed was also on the market for a very long time, 275 days to be exact.
Expect prices to continue to fluctuate, but ultimately in an upward trajectory. 
The San Pedro housing market for April 2023 saw a decrease in the average sale price for homes, with inventory and interest rates falling slightly.
The Rancho Palos Verdes real estate market for April 2023 continues to experience an increase in the average sale price of homes, indicating that inventory
Despite the higher interest rates buyers face in today’s market, home prices seem to be on the rise again because there simply are not enough
The Residential Purchase Agreement is 10 pages of terms and conditions that stipulate every aspect of the purchase, and we know exactly how to use them to your complete advantage!
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The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!
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