$8,536 Closing Credit*
$718,800
3,165 SqFt
6 Beds
•4 Full Baths
Patrice Howard, Listing Office: 1st Property Real Estate
Is Palmdale, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Palmdale has remained a Seller's Market.
Key Takeaway
Palmdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmdale, CA
How much do homes in Palmdale, CA cost?
Median Sold Price
$514,375
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,388(+2.9%)
Key Takeaway
Homes in Palmdale have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Palmdale was $514,375 in October 2024, up 2.9% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $216K | 0.5% |
| 2 Bedrooms | $365K | $370K | +1.4% |
| 3 Bedrooms | $440K | $460.4K | +4.6% |
| 4 Bedrooms | $525K | $540.1K | +2.9% |
| 5+ Bedrooms | $615.5K | $650K | +5.6% |
Summary: Palmdale housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Littlerock | $455K | $520K | +14.3% |
| Lancaster | $444.9K | $475K | +6.7% |
| Palmdale | $499.9K | $514.3K | +2.9% |
| South Antelope Valley | $525K | $540K | +2.9% |
| Acton | $840K | $820K | -2.4% |
Housing Supply in Palmdale, CA
How many homes are available in Palmdale, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 433 | 446 | +3.0% |
Summary: The Palmdale real estate market had 446 homes for sale in October 2024, a 3.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 18 | 15 | -16.7% |
| 3 Bedrooms | 170 | 168 | -1.2% |
| 4 Bedrooms | 183 | 193 | +5.5% |
| 5+ Bedrooms | 61 | 69 | +13.1% |
Summary: The Palmdale housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 13.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 83 | 91 | +9.6% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmdale, you could pay more than the asking price. 39.6% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in Palmdale in October 2024, up by 9.6% month-over-month. Of the 91 sold homes, 29% were sold under asking, 32% were sold at asking, and 40% were sold over asking.
Days on Market for Palmdale, CA
How long does it take to sell a home in Palmdale, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 40 Days | +36.2% |
Summary: Homes in Palmdale had an average of 40 days on market in Oct 2024, up by 36.2% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmdale are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 91 homes were sold in Palmdale; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% 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.