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PALOS VERDES HOUSING MARKET UPDATE (March 19, 2023)


(Single Family Residences)


The spikes in interest rates during the last 3 weeks killed housing sales. Only 5 new contracts were made while new listings continued to slump at 10. There are still many serious buyers; however, they are financially tight. As we expect mortgage rates to come down, I hope that sales may revive, though the rate need to decrease close to 6.5%, or prices to come down, and also more sellers must come out. There are only 65 active listings in the entire PV market. This situation is disastrously unprecedented for March.


Please see our trend analysis graphs Trend Analysis.

Please click here to see by Area E/A ratio

Please read more in our popular newsletters with unique analysis and full of useful information. Rockyfield Newsletter

Single Family Homes
(As of 10:00 March 19, 2023)
 PRICE RANGE  ACTIVE IN ESCROW  E/A RATIO
--  --  $999,900 0 0 NA%
$1,000,000 --  $1,249,900 3 3/td> 100%
$1,250,000 --  $1,499,900 0 4 NA%
$1,500,000 --  $1,749,900 6 8 133%
$1,750,000 --  $1,999,900 12 8 67%
$2,000,000 --  $2,499,900 7 8 114%
$2,500,000 --  $2,999,900 5 7 140%
$3,000,000 --  $3,999,999 10 5 50%
$4,000,000 --    22 5 23%
TOTAL 65 48 74%
MEDIAN PRICE (,000) $2900 $2034  
(Source: MLS)

By area please click here Market E A Ratio Analysis By Area  
The market trend graphs (supply-demand and price movements) are here Trend analysis

Townhomes and Condominiums
Many sales were made for both townhomes and condos last week, depleting the townhome inventory. Apparently buyers moved from single-family homes to townhomes.


The following links will lead you to active properties listings Rockyfield has selected at its own discretion from Multiple Listing Service (MLS). Displaying those properties in no way means any recommendation or endorsement by Rockyfield. All information included in our presentation is subject to professional inspections and various regulations.



CLICK LINKS BELOW TO SEE SELECTED PROPERTIES
If you want to see any of these properties, please call us (310)-544-0857

BRE Broker License #01328577

  Single Family Residence (updated 03/24/23)
Palos Verdes Area  
  South Torrance & Redondo  
  Townhomes (updated 03/24/23)
Palos Verdes Area  
Some townhomes may be listed as condominiums.
  South Torrance and Redondo  
  Condominiums (updated 03/24/23)
Palos Verdes Area  
  South Torrance & Redondo Beach  


  "Open houses in PV"


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