Real Estate Market Watch: Rancho Palos Verdes – January 2018

One month of the new year is already in the books!

 

Let’s take a look back at what happened in January 2018:

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!

 

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