$10,000 Closing Credit*
$899,999
2,142 SqFt
3 Beds
•2 Full Baths
Darlene Dempsey, Listing Office: RE/MAX One
Is Panorama City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Panorama City has remained a Seller's Market.
Key Takeaway
Panorama City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Panorama City, CA
How much do homes in Panorama City, CA cost?
Median Sold Price
$710,000
$469/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$95,000(+15.4%)
Key Takeaway
Homes in Panorama City have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Panorama City was $710,000 in November 2024, up 15.4% from last year, and the median price per square foot was $469.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $317.5K | +1.6% |
| 2 Bedrooms | $470K | $480K | +2.1% |
| 3 Bedrooms | $637.5K | $720K | +12.9% |
| 4 Bedrooms | $720K | $837.5K | +16.3% |
| 5+ Bedrooms | $1.6M | $1.2M | -23.0% |
Summary: Panorama City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes decreased by 23%.
Median Sold Price Compared To Nearby Neighborhoods
| Panorama City | $615K | $710K | +15.4% |
| Mission Hills | $755K | $822K | +8.9% |
| Arleta | $722.5K | $775K | +7.3% |
| The San Fernando Valley | $877K | $935.4K | +6.7% |
| North Hills | $826.5K | $850K | +2.8% |
Housing Supply in Panorama City, CA
How many homes are available in Panorama City, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 52 | -13.3% |
Summary: The Panorama City real estate market had 52 homes for sale in November 2024, a 13.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 24 | 17 | -29.2% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Panorama City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 29.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panorama City, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Panorama City in November 2024, down by 47.1% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Panorama City, CA
How long does it take to sell a home in Panorama City, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 20 Days | -47.5% |
Summary: Homes in Panorama City had an average of 20 days on market in Nov 2024, down by 47.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Panorama City are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Panorama City; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% 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.