The Huntington Palisades has seen a dramatic recovery in home values since the 2008-2011 market correction. Fueled by a steady increase in demand, prices have increased by approximately 100% in 10 years.
As of December 31st, 2020, 75 single-family Palisades residences were listed in the Multiple Listing Service (M.L.S.). The current level of inventory is 14% higher than last year’s December 31st available inventory (66).
It’d be quite an understatement to say that this year has been an interesting one. From the get-go, 2020 has been a roller coaster of ups and downs filled with uncertainty because of the ongoing pandemic.
As of November 30th, there were 101 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is ▲2% higher than this time last year.
As of October 31st, there were 106 single-family Palisades residences listed in the Multiple Listing Service (M.L.S.), which is ▲2% higher than the available inventory this time last year.
The third quarter Palisades sales this year were the lowest we have had in 11 years for third quarters. The number of months of Palisades homes inventory is now up to a 6-month level, the highest in several years. These are all indicators that a market adjustment may have begun.