Is Palos Verdes, 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, Palos Verdes has remained a Seller's Market.
Housing Prices in Palos Verdes, CA
How much do homes in Palos Verdes, CA cost?
Median Sold Price
$1,750,000
$803/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Palos Verdes was $1,750,000 in May 2024, up 1% from last year, and the median price per square foot was $803.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $472K | $550K | +16.5% |
2 Bedrooms | $809K | $867.5K | +7.2% |
3 Bedrooms | $1.4M | $1.5M | +7.6% |
4 Bedrooms | $2.0M | $2.0M | +3.6% |
5+ Bedrooms | $2.9M | $2.9M | -1.5% |
Summary: Palos Verdes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $3.9M | $4.9M | +24.0% |
Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
Palos Verdes | $1.7M | $1.7M | +1.0% |
Rancho Palos Verdes | $1.7M | $1.6M | -1.4% |
Rolling Hills Estates | $1.7M | $1.6M | -7.8% |
Housing Supply in Palos Verdes, CA
How many homes are available in Palos Verdes, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
317 | 334 | +5.4% |
Summary: The Palos Verdes real estate market had 334 homes for sale in May 2024, a 5.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 11 | +10.0% |
2 Bedrooms | 44 | 41 | -6.8% |
3 Bedrooms | 88 | 101 | +14.8% |
4 Bedrooms | 105 | 106 | +1.0% |
5+ Bedrooms | 70 | 75 | +7.1% |
Summary: The Palos Verdes housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
73 | 73 | 0.0% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 73 homes were sold or pending in Palos Verdes in May 2024, the same as the previous month. Of the 73 sold homes, 52% were sold under asking, 14% were sold at asking, and 34% were sold over asking.
Days on Market for Palos Verdes, CA
How long does it take to sell a home in Palos Verdes, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 30 Days | -22.0% |
Summary: Homes in Palos Verdes had an average of 30 days on market in May 2024, down by 22% compared to last year.
Breakdown of Home Sale Times
48 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, 73 homes were sold in Palos Verdes; 66% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.