$5,937 Closing Credit*
$499,950
1,100 SqFt
2 Beds
•1 Full Bath, 1 Partial
Kevin Grant, Listing Office: RE/MAX Plaza Realty
Is Panorama City, 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, 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
$662,000
$461/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,000(+3.4%)
Key Takeaway
Homes in Panorama City have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Panorama City was $662,000 in October 2024, up 3.4% from last year, and the median price per square foot was $461.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $312.5K | $317.5K | +1.6% |
| 2 Bedrooms | $470K | $477.5K | +1.6% |
| 3 Bedrooms | $649K | $708K | +9.1% |
| 4 Bedrooms | $715K | $835K | +16.8% |
| 5+ Bedrooms | $1.2M | $1.2M | +7.5% |
Summary: Panorama City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Mission Hills | $753.5K | $820K | +8.8% |
| The San Fernando Valley | $870.2K | $937.5K | +7.7% |
| Arleta | $725K | $775K | +6.9% |
| Panorama City | $640K | $662K | +3.4% |
| North Hills | $819K | $843.3K | +3.0% |
Housing Supply in Panorama City, CA
How many homes are available in Panorama City, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 61 | -4.7% |
Summary: The Panorama City real estate market had 61 homes for sale in October 2024, a 4.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 18 | 17 | -5.6% |
| 3 Bedrooms | 27 | 25 | -7.4% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Panorama City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panorama City, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Panorama City in October 2024, down by 5.6% month-over-month. Of the 17 sold homes, 29% were sold under asking, 18% were sold at asking, and 53% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 44 Days | +94.1% |
Summary: Homes in Panorama City had an average of 44 days on market in Oct 2024, up by 94.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 17 homes were sold in Panorama City; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% 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.