Market Update
Palos Verdes Peninsula
2022
mid year
Despite inflation, rising interest rates, historically low inventory, a moratorium on rent increases, landlords'
inability to evict non rent paying tenants, and cost of construction, real estate has been and always will be
a great investment. Having been a full time real estate agent for almost 40 years, this is not the first time I
have anticipated or experienced challenging circumstances within the real estate industry.
Despite the less than opportune circumstances, the real estate market in Palos Verdes continues to grow,
setting record sales with continued strong buyer activity.
Because of continued buyer demand, if you have thought about putting your home on the market, you
have not missed the window of opportunity. This is a great time to be a seller and if you are priced correctly,
you will sell fast. This is also a great time to be a buyer; as there is less buyer competition and homes are
no longer receiving numerous over asking offers. Interest rates are also still at historic lows, so now is the
time to buy if you are considering buying in the near future. Feel free to reach out with any questions - we
would love to help you navigate the marketplace and reach your real estate goals.
Steve & Ceci Watts
www.WattsRealEstate.com 310.874.8775
•
Palos Verdes Peninsula
Single Family Home Statistics
from the first half of the past 10 years
YEAR HOMES
SOLD
LOWEST
SALE PRICE
HIGHEST
SALE PRICE
AVERAGE
SALE PRICE
AVERAGE
DOM
2022 358 $1,000,000 $17,150,000 $2,771,572 20
2021 413 $800,000 $16,680,000 $2,409,067 28
2020 259 $730,000 $6,700,000 $1,845,727 52
2019 285 $680,000 $15,500,000 $1,927,418 56
2018 341 $700,000 $9,250,000 $1,860,754 50
2017 350 $640,000 $13,840,000 $1,771,431 48
2016 354 $610,000 $11,950,000 $1,692,446 69
2015 350 $357,000 $15,550,000 $1,700,869 76
2014 284 $350,000 $6,650,000 $1,615,649 73
2013 353 $225,000 $5,000,000 $1,391,688 79
