Real Estate Market Watch: Rancho Palos Verdes – October 2017

The numbers are in for October! As a whole, RPV saw increases across the board for the month of October. Single Family Residences (SFR) sales went from 33 in September to 38 in October, while average sale price increased to over $1.4M from $1.2M in September. Days on market saw a slight increase from 34 in September to 38 for October. Inventory is still not enough to keep up with demand which is causing prices to increase. The increase in DOM is negligible. Condominium and Townhouse sales doubled to 8 units sold in October compared to only 4 in September. Average sale price saw a significant increase to $821k in October compared to $747k in September. However, the numbers for condos and townhouses are slightly skewed this month due to a sale in Terranea that was on the market for 500+ days and sold for $2.2M. Days on market increased to 84, but this is due to the same condo I mentioned earlier. Ignoring that sale would reduce days on market to just 22 days, which suggest strong demand for those types of properties.     Eastview specifically had only 6 sales for the second month in a row. There were 5 SFR sales in the month of October, averaging $958K which is up from $839k in September. Days on market dropped significantly to only 20 days in October compared to 36 in September. Eastview, being the most affordable of RPV’s neighborhoods, always has strong demand and it is clearly evident in the days on market numbers. There was only 1 condo sale in October which was on the market for only 18 days. Again, this tells us that demand is strong in the area. As I mentioned in the September newsletter, this time of year things tend to slow down a bit. I expect to see similar numbers for the remainder of the year due to the upcoming holidays, but 2018 will be another great year to be a seller! Feel free to like our Facebook page which is loaded with great posts, photos, videos and tips!

Who is The Prestige Team?

Rancho Palos Verdes Realtor Broker Associate Karen Anderson, along with her Real Estate Team, The Prestige Team, has been selling residential real estate in the South Bay, including Rancho Palos Verdes, San Pedro, and far beyond LA County for over 27 years and is ranked in the top 1% of realtors in Rancho Palos Verdes.  We specialize in transforming homes into impeccably presented real estate listings that command top dollar in the shortest amount of time!  

Learn more about us below!

Before After

For our Buyers:

Added Benefits When Working With Us

Contract Knowledge

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!

Expert Negotiators

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!

Team = Always Available

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!

On Every Listing:

Need Additional Assistance? We Specialize in that!

Decluttering & Emptying Properties

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

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!

Team = Always Available

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!

Latest Posts