Is Palmdale, 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, Palmdale has remained a Seller's Market.
Housing Prices in Palmdale, CA
How much do homes in Palmdale, CA cost?
Median Sold Price
$500,000
$271/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Summary: The median home sold price in Palmdale was $500,000 in May 2024, the same as last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $197.5K | $215K | +8.9% |
2 Bedrooms | $350K | $370K | +5.7% |
3 Bedrooms | $444.7K | $450K | +1.2% |
4 Bedrooms | $520K | $536.2K | +3.1% |
5+ Bedrooms | $615K | $638K | +3.7% |
Summary: Palmdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
Lancaster | $440K | $460K | +4.5% |
South Antelope Valley | $525K | $532K | +1.3% |
Palmdale | $500K | $500K | 0.0% |
Acton | $840K | $830K | -1.2% |
Housing Supply in Palmdale, CA
How many homes are available in Palmdale, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
391 | 423 | +8.2% |
Summary: The Palmdale real estate market had 423 homes for sale in May 2024, a 8.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 19 | 17 | -10.5% |
3 Bedrooms | 155 | 155 | 0.0% |
4 Bedrooms | 148 | 173 | +16.9% |
5+ Bedrooms | 68 | 76 | +11.8% |
Summary: The Palmdale 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 decreased by 10.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
83 | 104 | +25.3% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Summary: A total of 104 homes were sold or pending in Palmdale in May 2024, up by 25.3% month-over-month. Of the 104 sold homes, 30% were sold under asking, 29% were sold at asking, and 41% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 24 Days | -22.7% |
Summary: Homes in Palmdale had an average of 24 days on market in May 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 104 homes were sold in Palmdale; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.