Rancho Palos Verdes experienced a significant pull back in sales compared to December. The only metric that increased was average price of condos, which is actually skewed because of a $1.6M condo sale.
However, there is no need to panic. Last January, only 28 homes sold, a difference only 4 compared to this year. We are still experiencing a shortage of inventory across the region. With the Fed showing signs of raising interest rates, we could see prices start leveling off. However, the lack of inventory will likely offset that.
Expect units sold to gradually increase over the next few months as we approach spring!
Although interest rates have settled in the 6% range for much of the new year, housing inventory remains low, but prices have started to decline.
The San Pedro housing market for February 2023 saw significant changes to the average sale price of homes, indicating that rates may be putting pressure
The San Pedro housing market started 2023 strong, similar to the fourth quarter of 2022. Interest rates decreased slightly, helping raise the average sale price
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!
As experienced Full-Service Realtors, we know how to leverage you buying and bargain power. Whether competing to get your offer accepted or negotiating repairs, our goal is to get you a great deal!
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!
Need help with decluttering? Whether you need a few boxes and an extra set of hands, have a house full of items that need to go, we have the resources in place ready to assist with your needs!
Schedule Management is crucial if you have a time frame in mind for the sale of your home. Let us use our experience to ensure every aspect of preparing your home for the market stays on schedule!
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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