| The name Palos Verdes is used to denote a group of | | | | 76 sales pending, which is double the figure from last |
| coastal cities on the Palos Verdes Peninsula in the | | | | year at the same time. |
| southwestern part of Los Angeles County, California. | | | | The average price of homes in the city has been |
| Some of the notable cities in the area are Palos | | | | hovering around $1.14 million, or $471 per square foot. |
| Verdes Estates, Rolling Hills, Rancho Palos Verdes, | | | | The median price was $1.0 million, up from $962,000 |
| and Rolling Hills Estates. This prosperous community is | | | | of the previous few months. Though just |
| known for its landscape, horse trails, schools, and | | | | experiencing a slight rise, these signs point out that |
| expensive properties. | | | | the city's real estate market is headed back in the |
| The real estate market in Palos Verdes has suffered | | | | right direction. |
| significantly since the financial crisis began in the U.S. | | | | Meanwhile, the inventory in this high-priced |
| and then spread to countries across the globe. Like | | | | neighborhood is down as well. There were 292 |
| the other cities across the country, the city has seen | | | | homes for sale in the area in late December, the |
| its home values plummet, a rise in foreclosures and a | | | | lowest figure registered in nearly a year and a half. |
| spike in inventory stuck on the market. But the real | | | | December featured an unlikely spike back up in the |
| estate market as of late is showing signs of | | | | average number of days homes for sale are spending |
| stabilization, giving real estate property buyers a | | | | on the market, which was up to 110 days according |
| cause for cautious optimism in the coming months. | | | | to figures of the past four months. |
| The volume of sales has been increasing over this | | | | All these trends signify only one thing: that the real |
| financial year, particularly as many property investors | | | | estate market in the area is back on the right track |
| are encouraged to enter a market they might have | | | | and options are plenty. It is just a question of which |
| otherwise avoided because of the government's plan | | | | property would you be interested in buying. If you |
| to offer thousands of dollars in the form of tax | | | | are someone who is really looking forward to invest |
| rebates for the property buyers. For instance, we | | | | in the properties of Palos Verdes then choose the |
| can take the report of the last few months reflects | | | | right real estate agent to get the best deals that suit |
| that around 66 Palos Verdes houses sold and around | | | | your requirements and budget. |