Breaking news-- the coastal neighborhoods of San Pedro are experiencing a sellers' market based on the supply and demand of inventory. Yes, I know every news story talks about the Buyers' Market, but in these neighborhoods the buyer is not holding all the cards! Absorption rate is increasing and inventory is shrinking---classics signs of a Sellers' Market. Yes, you heard that right! See the statistics below for the month of February 2009.
South Shores Neighborhood:
Active Listings: 6 Single Family Homes are listed for sale priced from $625,000 to $1,999,000.
Pending Sales: 4 Single Family Homes are in escrow priced from $700,000 to $849,000.
February Sales: 2 Single Family Homes sold priced at $755,000 and $885,000.
Palisades Neighborhood:
Active Listings: 6 Pending Sales: 5 February 09 Sales: 0
Point Fermin Neighborhood:
Active Listings: 15 Pending Sales: 8 February 09 Sales: 1
It is important to remember real estate is local. Prices, supply and demand vary from neighborhood to neighborhood. To find out what's happening with house sales and prices in your neighborhood give me a call. I will give you the details you need to make informed decisions regarding your real estate holdings.
Track the local Palos Verdes and San Pedro property market on PalosVerdesLifestyle.com
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.
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