Is Monterey Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Monterey Park has remained a Seller's Market.
Housing Prices in Monterey Park, CA
How much do homes in Monterey Park, CA cost?
Median Sold Price
$860,000
$566/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Monterey Park was $860,000 in April 2024, up 1.2% from last year, and the median price per square foot was $566.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $350K | $418K | +19.4% |
2 Bedrooms | $555.5K | $592.5K | +6.7% |
3 Bedrooms | $820K | $850K | +3.7% |
4 Bedrooms | $940K | $1.0M | +11.7% |
5+ Bedrooms | $1.2M | $1.4M | +22.3% |
Summary: Monterey Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 22.3%.
Median Sold Price Compared To Nearby Cities
Rosemead | $785K | $850K | +8.3% |
Southwest San Gabriel Valley | $818.3K | $860K | +5.1% |
Alhambra | $801.6K | $842.5K | +5.1% |
Montebello | $730K | $740K | +1.4% |
Monterey Park | $850K | $860K | +1.2% |
Housing Supply in Monterey Park, CA
How many homes are available in Monterey Park, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 72 | -1.4% |
Summary: The Monterey Park real estate market had 72 homes for sale in April 2024, a 1.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 19 | 20 | +5.3% |
3 Bedrooms | 34 | 31 | -8.8% |
4 Bedrooms | 12 | 14 | +16.7% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Monterey Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 22 | -8.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Monterey Park in April 2024, down by 8.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 5% were sold at asking, and 50% were sold over asking.
Days on Market for Monterey Park, CA
How long does it take to sell a home in Monterey Park, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 23 Days | -10.6% |
Summary: Homes in Monterey Park had an average of 23 days on market in Apr 2024, down by 10.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in Monterey Park; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.