I agree JP. A lot of houses in the “nice areas” of PL and OB had some decent closing prices. Some of places are closing 20% or so down from their original listing prices.
I think you may be right about this being a good time to buy in PLOB. Like a lot of good areas, low turnover kept prices high longer, but the slow summer brought some realism to the market. However inventory has dropped, so that downward pressure may not continue (unless there is another bad summer.)
Armed with much better comps, buyers agents should be negotiating from a much better position. Especially with a lot of places out there 100+ DOM.
BTW, Do you just monitor the peninsula as a hobby, or are you planning to swoop down from PB and scoop up a place?
