Last week the Wall Street Journal published an article describing the shortage of homes for sale in key markets. The Palos Verdes Peninsula is experiencing exactly this scenario. From PV across the entire South Bay, we are seeing buyers compete for fairly priced homes – those with access to cash and good credit are picking up the well priced homes. Multiple offers and above price offers are becoming common! The graph below shows 13 months worth of For Sale/Sold/Pending results for the city of Rancho Palos Verdes.
Give us a call if you’re ready to come off the sidelines and purchase or if you’d like to obtain a market analysis for your specific home: 310.426.8811.