"I thought the market was going down, but a house in Rolling Hills is in escrow for more than $13,000,000. What's going on?" Those were the words of a Rolling Hills resident who is contemplating listing his property in the next few weeks.
Are you confused by the plethora of press predicting gloom and doom? Are you too afraid to buy and remain on the sideline nervously waiting for the bottom? Do you fear listing your property will be an act of futility? Relax, what you need are the facts, not fear tactics.
Here's the scoop with no fluff, just the facts:
Palos Verdes Market Update as of November 25, 2007
Active Listings: 205 Single Family Homes Currently For Sale Priced from $599,000 to $23,000,000
In Escrow: 39 Single Family Homes Currently In Escrow Priced from $799,000 to $13,250,000
Sold 4rd Q 07: 53 Single Family Homes Sold 4rd Q as of 11/25/07 from $548,900 to $3,400.000
Sold YTD: 499 Single Family Homes SOLD in 2007 and we still have a month to go!
Statistics taken from MLS and includes the following Palos Verdes Peninsula cities: Rolling Hills, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes.
We're fortunate to live in a coastal community with excellent schools, very little new construction and foreclosures are rare. Therefore, our residential resale market remains strong.
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.
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