Many people have been holding off on making their dream purchase of a Palos Verdes Peninsula home because of the recent fluctuations in the national real estate market. The last thing anyone wants is to buy a South Bay luxury home and then find out the value has dropped not too long after. Good news is here, though, because recent home value studies released from Trulia.com show that since June 2013, home values in the South Bay have gone up a minimum of 10%. From June 2012 to June 2013, home values went up 20%.
The home value slow-down is indicative of a more stable local real estate market with less fluctuation, steady growth, and foreseeable trends. This is great news. It means if you buy a home in the South Bay now, it may not increase in value as rapidly as properties did in the boom days of several years ago, but the slower (but still very real and strong) home value growth will be reliable, making the purchasing of South Bay real estate a sensible investment.
Look at this chart showing Palos Verdes home values over a three year period; you’ll notice a recent small crash, but overall, in three years, home values have dramatically climbed and will continue to climb, albeit at a more responsible, sensible rate assuring both sellers and buyers that their properties are worth more over time:
<img src=”http://charts.altosresearch.com/altos/app?s=median:l,&ra=c&q=a&st=CA&c=PALOS%20VERDES%20ESTATES&z=a&sz=m&ts=g&rt=sf&service=chart&pai=52922320&co=0&endDate=&startDate=” alt=”Real Estate Market Chart by Altos Research www.altosresearch.com” />