The Palos Verdes luxury home market is slowing down with the arrival of back to school and the end of summer. Whether this is a lasting real estate market condition or a rest and recovery period after an unusually long period of growth in both number of sales and prices, is yet to be determined.
Today, based on my broker's curiosity, I decided to check the status of Palos Verdes luxury homes priced at or above $5,000,000 on the entire Palos Verdes Peninsula. Here are the results:
Palos Verdes Estates has ten luxury residences listed for sale, one in escrow with an accepted offer, and two 2016 sales in the $5,000,000 and up price range.
Rolling Hills has five recorded sales in the price range YTD for 2016, none in escrow at this time and ten luxury properties list for sale priced at $5,000,000 and up.
Rancho Palos Verdes has six single-family luxury homes in the price range for sale, none in escrow at this time and three 2016 sales YTD.
Rolling Hills Estates does not currently have any single-family properties listed for sale, nor any 2016 sales in the $5,000,000 and up price range.
If you're considering selling or purchasing a high-end Palos Verdes coastal property and would like more information contact Norma@CharlemagneProperties.com or call me at 310.493.8333.
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