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The new year is just beginning, and the early trends of 2020 will start to reveal themselves in the next couple of weeks. This week I wanted to give a broad-brush stroke of the Palos Verdes Hill. If you read last week’s blog, you know that South Bay median prices are down year-over-year. In case you missed it, you can read the past blog here. Also, a few months ago I wrote a blog post titled, “Palos Verdes Luxury Property: Years to Sell & Huge Discounts,” so for those who read that blog, you would know that many Palos Verdes luxury properties are having a tough time selling. To reiterate last week’s information, when you split
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The Palos Verdes Peninsula is known for its single-family homes and suburban location. Prices here in many cases can be more affordable than the beach cities, but it is still not cheap! If you are looking to make a move to Palos Verdes but do not need the larger single-family home just yet, the condo listings throughout The Hill present HUGE value relative to single-family home prices in the area. There are condo options at a fraction of the cost to homes on the Hill and these can be a great starter option for buyers on a budget looking for a lot of bang for their buck. Rolling Hills Estates Condos Rolling Hills Estates has the
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Some of the most desirable real estate in all of the South Bay, maybe even all of Los Angeles County, exists atop the Palos Verdes (P.V.) bluffs. The combination of privacy, big views, and the sound of waves crashing is virtually unmatched in Southern California. A majority of these bluff top homes are located in Lunada Bay. That said, Malaga Cove, West Palos Verdes, and even the Palos Verdes (P.V.) Drive South areas have a few fabulous bluff properties to offer from time to time. 2017 Bluff Sales Probably the most fruitful year of recent memory for bluff sales was 2017. The old Toyota Motor Sales home that had been owned by the company since 1988
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Who’s HOT Manhattan Beach New Construction This is no secret but Manhattan Beach has been on a new construction kick. Buyers in this city tend to be high-income earners and want to focus on their business, not remodeling a home. Although East Manhattan Beach was down as a whole, new construction prices continued to make record highs even to this day. That being said, Liberty Village is setting new records for itself as well. The Tree Section was flat in 2018 and although new construction has slowed slightly, people are still picking up new builds at a strong pace. The Hill Section poses a lot of risks for spec builders, so when a newer well-done home
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Palos Verdes is BIG. With four cities and unincorporated county areas, there is a lot of ground to cover on The Hill. In this week’s blog, I will attempt to give you a summary of what is happening on the PV Peninsula. Singly-Family Homes Under $1.5 Million are Hot The PV home market under $1.5 million continues to be very hot. With entry-level homes scarce and Millennials coming of age, many buyers are looking to The Hill to get an affordable home with a nice backyard and fantastic schools (and parking!). From January 2017 to January 2018, there were 380 single-family home sales under $1.5 million in all of Palos Verdes. That is almost 32 home
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This week I wanted to highlight some notable sales up on the Palos Verdes Peninsula. There were record highs and record lows set in Lunada Bay, along with some interesting movement in Rancho Palos Verdes and Rolling Hills Estates in the past month. Record High Let’s start with the second highest recorded MLS sale on the entire P.V. Hill…ever. The long time Toyota Motor Sales owned property at 1721 Paseo Del Mar in Lunada Bay was listed for $13.9 million and took only 38 days to find a buyer. Not only did it sell quickly for a home in that price range, but it received full price with only a $60,000 termite and repair credit. It will
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