$4,500,000
4,500 SqFt
4 Beds
•5 Full Baths
Chris Adlam, Listing Office: Vista Sotheby's International Realty
Is Palos Verdes Peninsula, 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, Palos Verdes Peninsula has remained a Seller's Market.
Key Takeaway
Palos Verdes Peninsula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palos Verdes Peninsula, CA
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,581,666
$946/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$282,166(+12.3%)
Key Takeaway
Homes in Palos Verdes Peninsula have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Palos Verdes Peninsula was $2,581,666 in October 2024, up 12.3% from last year, and the median price per square foot was $946.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $486.5K | $650K | +33.6% |
| 2 Bedrooms | $905K | $954K | +5.4% |
| 3 Bedrooms | $1.9M | $1.9M | +3.9% |
| 4 Bedrooms | $2.5M | $2.9M | +16.7% |
| 5+ Bedrooms | $4.3M | $4.1M | -5.7% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.6%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Palos Verdes Peninsula | $2.2M | $2.5M | +12.3% |
| Palos Verdes Estates | $2.4M | $2.8M | +12.3% |
| Rolling Hills | $4.4M | $4.7M | +8.0% |
| Rancho Palos Verdes | $1.6M | $1.7M | +4.4% |
| Rolling Hills Estates | $1.6M | $1.7M | 0.4% |
Housing Supply in Palos Verdes Peninsula, CA
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 114 | 123 | +7.9% |
Summary: The Palos Verdes Peninsula real estate market had 123 homes for sale in October 2024, a 7.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 36 | 38 | +5.6% |
| 4 Bedrooms | 40 | 43 | +7.5% |
| 5+ Bedrooms | 29 | 33 | +13.8% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 13.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 28 | +211.1% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Peninsula, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Palos Verdes Peninsula in October 2024, up by 211.1% month-over-month. Of the 28 sold homes, 64% were sold under asking, 7% were sold at asking, and 29% were sold over asking.
Days on Market for Palos Verdes Peninsula, CA
How long does it take to sell a home in Palos Verdes Peninsula, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 42 Days | +77.5% |
Summary: Homes in Palos Verdes Peninsula had an average of 42 days on market in Oct 2024, up by 77.5% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palos Verdes Peninsula are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Palos Verdes Peninsula; 61% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 18% 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.