$3,600,000
5,591 SqFt
2 Beds
•1 Bath
John Boyett, Listing Office: CBRE
Is Palms, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Palms has remained a Seller's Market.
Key Takeaway
Palms is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palms, CA
How much do homes in Palms, CA cost?
Median Sold Price
$1,111,000
$768/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$204,000(-15.5%)
Key Takeaway
Homes in Palms have sold for 15.5% less than they did a month ago.
Summary: The median home sold price in Palms was $1,111,000 in November 2024, down 15.5% from last month, and the median price per square foot was $768.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $520K | $558K | +7.3% |
| 2 Bedrooms | $718.5K | $780K | +8.6% |
| 3 Bedrooms | $1.3M | $1.6M | +23.8% |
| 4 Bedrooms | $1.8M | $2.2M | +20.3% |
| 5+ Bedrooms | $2.1M | $3.2M | +49.8% |
Summary: Palms housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 49.8%.
Housing Supply in Palms, CA
How many homes are available in Palms, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 62 | 57 | -8.1% |
Summary: The Palms real estate market had 57 homes for sale in November 2024, a 8.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 18 | 15 | -16.7% |
Summary: The Palms housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palms, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Palms in November 2024, down by 7.1% month-over-month. Of the 13 sold homes, 62% were sold under asking, 8% were sold at asking, and 31% were sold over asking.
Days on Market for Palms, CA
How long does it take to sell a home in Palms, CA?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 34 Days | -10.8% |
Summary: Homes in Palms had an average of 34 days on market in Nov 2024, down by 10.8% compared to last month.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palms are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 13 homes were sold in Palms; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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.