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!
www.facebook.com/ThePrestigeTeam 
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!
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!
The Prestige Team © All rights reserved - 2023 | Keller Williams - L.A. Harbor - DRE 01501084
