Market Trends

Last year at this time, there was approximately a four-month level of inventory. When the inventory level dips below six months, it is generally considered to be a “seller’s market”. 

As most people must know by now, the housing recovery has been much greater than anticipated in 2012. While nationwide prices have increased by about 12% in the past year, in Pacific Palisades the median sale price and average price per square foot are up more than 17%.

In the past few months, the stage may have been set for a possible nationwide real estate recovery. The Federal Reserve has determined to do everything possible to maintain 60-year low levels of interest rates for the next two years.