Whose Market Is This, Anyway? - Norma Toering RE/MAX Palos Verdes

Isn't this a buyers market? Are sellers giving their properties away? Good questions.

I like my clients and customers to be informed, and I work very hard to make sure they have up-to-date information on the real estate market. Sharing my "insider secrets" is one of the perks of working with an agent who is a bit of a statistic fanatic. Blame the statistics course I took in college, but those numbers do tell the story--sometimes more than one story.

Take today. I passed along to a buyer the "insider news" that some homes under $1,000,000 in Palos Verdes are receiving multiple offers,and I expect this phenomenon to increase as more first time buyers enter the market and the trickle up effect comes into play. This prospective buyer believes the buyers market is a big comfortable blanket covering all of Palos Verdes. Not so.

Here's what the numbers say:

Single Family Homes under $1,200,000 are experiencing a Sellers Market.

Single Family Homes from$1,200,000 to $1,500,000 are in a Buyers Market.

Single Family Homes from $1,500,000 to $2,000,000 are in a Neutral Market.

Single Family Homes priced over $2,000,000 are in the strongest Buyers Market I have ever worked.

These are the facts, they are not sprinkled with fairy dust.

So the market you'll be working with in Palos Verdes depends upon the price of the home you will be selling or purchasing.

A little confused? Based on a the current listings in each price range, and the current properties in escrow it is easy to determine not only the local market activity, but the absorption rate in each price range.

We have several different and distinct climates on the Palos Verdes Peninsula and it appears we have several different real estate markets too.

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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