Palos Verdes Lifestyle - Norma Toering 310-493-8333

head_left_image

State of Real Estate Sales in Palos Verdes 2007 Statistics

2007 was an unbelievable year for real estate as it grabbed front-page headlines nearly every day.  Sub-prime submersion, buyer bailouts, and other notorious stories unfolded with growing concern for both sellers and buyers. These national stories are important and do have an economic impact, but let's go local for what transpired in Palos Verdes in 2007.

Three key factors have cushioned the fall for the cities of the Palos Verdes Peninsula: Rolling Hills, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes.

  1. Coastal Location
  2. Limited New Construction
  3. Award Winning School District

This golden trio provides the pillars that continue to support real estate values in Palos Verdes.  Read them again. 2008 will not see any one of the three change in any significant way.  The market will do what the market is going to do, but it will occur on a local basis; it will not be a uniform national phenomenon.

Palos Verdes Single Family Sales Statistics:

2007:  329 Homes Sold for $1,500,000 or Less

2007:  201 Homes Sold for $1,500,000 or More

2007:  29 Homes are Currently in Escrow

2007:  168 Homes are Currently For Sale

The only sensational story about Palos Verdes properties and homes is the coastal location, the uniqueness of the area, and the stellar schools.  Those are the reasons buyers will continue to purchase Palos Verdes homes in 2008.

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 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.


Find Norma on: Facebook - Twitter - LinkedIn - Email Norma

Palos Verdes Real Estate Blog - Palos Verdes Real Estate Website
Palos Verdes Home Search - More information on Palos Verdes

Boitano Palms - Boitano Palms Video - Boitano Palms
Custom Desert Home Boitano Palms - Palos Verdes Homes Videos

Search for Homes

Subscribe via ActiveRain - Subscribe via Email - Start your own blog on activerain!

Sell Smart, Buy Wise and Live Well

Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

Find Norma on: Facebook - Twitter - LinkedIn - Pinterest - Google+

PalosVerdesLifestyle - Norma's award winning site as the best Palos Verdes homes and real estate blog since 2007.

  • Selected by Relocation.com as one of the top ten Los Angeles area real estate blogs.
  • Chosen by MovingCost.com as one of the best Los Angeles realty blogs.
  • Awarded 5 out of 5 stars by Lender411 blog review. 
  • Ranked by Technorati in the top 1% of all blogs.
  • As seen in the Daily Breeze newspaper.
  • Rancho Palos Verdes Top Real Estate Agent

Palos Verdes Homes Blog - Palos Verdes Houses
Palos Verdes Horse Property - Palos Verdes Real Estate Agent
Palos Verdes Coastal Homes - Palos Verdes Home Search
Photos of Palos Verdes - Palos Verdes Videos
Palos Verdes Luxury Homes - Beach Cities Homes - Income Property in the South Bay

Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Comments

Norma- Great areas such as yours and ours will always attract buyers as long as people golf and sunshine! Katerina
Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) almost 12 years ago

Norma, you're fortunate to be in such a beautiful area and to have had a softer "softening" of the market. It seems the higher end market is usually more solid due to the financial stability of buyers and sellers. 

-Colleen

Posted by Colleen Fischesser Northwest Property Shop, A Tradition of Trust in the Pacific NW since 1990! (RE/MAX Advantage | Managing Broker) almost 12 years ago
Colleen - Yes, although we've had a definite slowdown and the volume of sales is down, prices are holding with only minimal decline--5-8%.  That's not too bad when you consider many homes increased by 100% during the hot market years.
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) almost 12 years ago

This blog does not allow anonymous comments