Is Palos Verdes Peninsula, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Palos Verdes Peninsula has remained a Seller's Market.
Housing Prices in Palos Verdes Peninsula, CA
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,502,500
$942/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Palos Verdes Peninsula was $2,502,500 in May 2024, up 8.8% from last year, and the median price per square foot was $942.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $478.5K | $635.2K | +32.8% |
2 Bedrooms | $1.0M | $952K | -11.9% |
3 Bedrooms | $1.8M | $1.9M | +3.2% |
4 Bedrooms | $2.6M | $2.6M | +2.2% |
5+ Bedrooms | $4.1M | $4.3M | +5.0% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.8%, 2 bedroom homes decreased by 11.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $3.9M | $4.9M | +24.0% |
Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
Rancho Palos Verdes | $1.7M | $1.6M | -1.4% |
Palos Verdes Estates | $2.7M | $2.6M | -2.7% |
Rolling Hills Estates | $1.7M | $1.6M | -7.8% |
Housing Supply in Palos Verdes Peninsula, CA
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
123 | 125 | +1.6% |
Summary: The Palos Verdes Peninsula real estate market had 125 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 10 | -9.1% |
3 Bedrooms | 33 | 39 | +18.2% |
4 Bedrooms | 36 | 35 | -2.8% |
5+ Bedrooms | 41 | 39 | -4.9% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 4.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
23 | 25 | +8.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Palos Verdes Peninsula in May 2024, up by 8.7% month-over-month. Of the 25 sold homes, 72% were sold under asking, 4% were sold at asking, and 24% were sold over asking.
Days on Market for Palos Verdes Peninsula, CA
How long does it take to sell a home in Palos Verdes Peninsula, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 29 Days | +18.5% |
Summary: Homes in Palos Verdes Peninsula had an average of 29 days on market in May 2024, up by 18.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 25 homes were sold in Palos Verdes Peninsula; 56% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.