$99,000
5.01 Acres
Land
Mario Gattavara, Listing Office: Coldwell Banker Lifestyle Properties
Is Palermo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Palermo has remained a Seller's Market.
Key Takeaway
Palermo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palermo, CA
How much do homes in Palermo, CA cost?
Median Sold Price
$385,000
$314/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,500(+3.4%)
Key Takeaway
Homes in Palermo have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Palermo was $385,000 in November 2024, up 3.4% from last year, and the median price per square foot was $314.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $212K | N/A |
| 2 Bedrooms | $289.5K | $335K | +15.7% |
| 3 Bedrooms | $370K | $410K | +10.8% |
| 4 Bedrooms | $335K | $465K | +38.8% |
| 5+ Bedrooms | $725K | $315K | -56.6% |
Summary: Palermo housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 38.8%, and 5+ bedroom homes decreased by 56.6%.
Median Sold Price Compared To Nearby Cities
| Palermo | $372.5K | $385K | +3.4% |
| Oroville | $315K | $325K | +3.2% |
Housing Supply in Palermo, CA
How many homes are available in Palermo, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Summary: The Palermo real estate market had 20 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Palermo housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palermo, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Palermo in November 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Palermo, CA
How long does it take to sell a home in Palermo, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 61 Days | 90 Days | +47.6% |
Summary: Homes in Palermo had an average of 90 days on market in Nov 2024, up by 47.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palermo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Palermo; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.