Is Montebello, 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, Montebello has remained a Seller's Market.
Housing Prices in Montebello, CA
How much do homes in Montebello, CA cost?
Median Sold Price
$750,000
$495/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Montebello was $750,000 in May 2024, up 3.3% from last year, and the median price per square foot was $495.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $372K | $345K | -7.3% |
2 Bedrooms | $568.2K | $587.5K | +3.4% |
3 Bedrooms | $707.5K | $760K | +7.4% |
4 Bedrooms | $795K | $886.5K | +11.5% |
5+ Bedrooms | $943.7K | $1.4M | +53.8% |
Summary: Montebello housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 53.8%.
Median Sold Price Compared To Nearby Cities
Southwest San Gabriel Valley | $808.5K | $866.6K | +7.2% |
Pico Rivera | $677.5K | $710K | +4.8% |
Montebello | $726.1K | $750K | +3.3% |
Monterey Park | $851K | $858.3K | +0.9% |
Housing Supply in Montebello, CA
How many homes are available in Montebello, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 65 | +10.2% |
Summary: The Montebello real estate market had 65 homes for sale in May 2024, a 10.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 22 | 24 | +9.1% |
3 Bedrooms | 26 | 23 | -11.5% |
4 Bedrooms | 7 | 13 | +85.7% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Montebello housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 28 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Montebello in May 2024, up by 75.0% month-over-month. Of the 28 sold homes, 18% were sold under asking, 25% were sold at asking, and 57% were sold over asking.
Days on Market for Montebello, CA
How long does it take to sell a home in Montebello, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 27 Days | +2.3% |
Summary: Homes in Montebello had an average of 27 days on market in May 2024, up by 2.3% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Montebello; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.