The Lunada Bay home market has been busy the last couple of months. We have seen some great buyer-side deals on fixers earlier in the year amid uncertainty, and at the same time, some sellers landing record prices for rare new construction or premier locations. Lower Lunada Bay (west of P.V. Drive West) has seen a wide range of activity from closings, pendings, and a handful of new listings this week. Re-Sale from 2021 at a Big Mark-up We begin with a gorgeous corner lot in the Margate pocket of lower Lunada Bay with a new listing that was on the market just about two years ago. 1640 Chelsea Road This charming home was sold in
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The past few years have been incredible for Palos Verdes home prices. Buyers fled to the suburbs during the Coronavirus pandemic making The Hill one of the hottest real estate pockets in all of Los Angeles, especially the prime submarkets. One of those white-hot submarkets was the ever desirable Lunada Bay in Palos Verdes Estates. Lunada Bay is hard not to love thanks to its little downtown, spacious property lots, and intoxicating blufftop views with hidden surf spots…even the beach boys sang about “Lunada Bay/P.V.” in their Surfin’ USA demo song (fun fact). Now that the work-from-home, stay-at-home, do-everything-at-home days are behind us, along with mortgage rates more than doubling, Lunada Bay is coming back down
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We are proud and honored to report that the Manhattan Pacific Realty team is seeing a busy start to the fourth quarter. Many thanks to all of our clients and readers who put their trust in us. In the coming week you can expect a new podcast taking a deeper dive into Q3 South Bay home numbers, a blog post on SB9 and SB10, and a newsletter going to press for those of you on our snail mail list. This week’s blog will be a quick one, and a little out of character for the normal blog, as I will break down two personal new listings. Let’s get right to it… Special Lunada Bay Charmer in
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Unless you have been living under a rock, you know that low interest rates and the Coronavirus pandemic have driven insatiable demand for housing. Specifically, homes with more space, yards, and farther away from cities. In our South Bay home marketplace, no area best suites the above needs more than the Palos Verdes Peninsula. And, while Rancho Palos Verdes, Rolling Hills Estates, and “Behind the Gates” in Rolling Hills all fit the bill, I am going to focus on the city of Palos Verdes Estates (PVE) this week. For those of you not as familiar with Palos Verdes Estates, there are four main real estate submarkets (with of course, many more pockets within) called Lunada Bay,
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We are fully into 2021 and it is time to start gearing up for the spring selling season! The inventory is still at a slow trickle, but believe me, it will come. In future weeks I plan to write more of my standard blog posts that break down individual sub-markets and micro-markets throughout Palos Verdes and the Beach Cities. However, for this week’s post, I want to go over some MLS listings that debuted in the last week that look to be deals. Even amidst the low inventory, you can still find value if you know how to look. That said, it is getting harder and harder to identify a good deal unless it is your
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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 luxury real estate market typically moves slower when compared to the Beach Cities these days. Farther removed from major economic centers like Downtown L.A., Santa Monica, the Miracle Mile, and Silicon Beach, the pool of wealthy buyers is smaller in Palos Verdes than areas like Manhattan Beach, Beverly Hills, or Brentwood, to name a few. That said, the past couple years for luxury sales has slowed for Sellers on the Palos Verdes Hill. In “boom” years like 2014 and 2015, the Palos Verdes Peninsula had home sales of $6 million or above much more frequently, with 12 sales and 13 sales respectively. Most notable was in 2015 when those 13 sales of
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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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The title of this post is a matter of opinion but it is tough to argue to the contrary. Armed with single-family homes, large lots, and some of the best schools in Southern California, Palos Verdes homes are offering an incredible bang for your buck today. If you know where to look and have some patience, you can land yourself a fabulous deal relative to the beach city markets. And in some cases, a better value compared to inland real estate markets too. This blog will break down some really fantastic deals that are tough to beat anywhere else in the South Bay. I will also highlight some current listings that have the potential to be
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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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