$10,000 Closing Credit*
$1,200,000
1,494 SqFt
2 Beds
•2 Full Baths
Esther Ahdoot, Listing Office: Berkshire Hathaway HomeService
Is Rancho Palos Verdes, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Rancho Palos Verdes was a Seller's Market.
Key Takeaway
Rancho Palos Verdes is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Rancho Palos Verdes, CA
How much do homes in Rancho Palos Verdes, CA cost?
Median Sold Price
$1,739,600
$777/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$89,600(+5.4%)
Key Takeaway
Homes in Rancho Palos Verdes have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Rancho Palos Verdes was $1,739,600 in November 2024, up 5.4% from last year, and the median price per square foot was $777.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $571.5K | $550K | -3.8% |
| 2 Bedrooms | $965K | $998K | +3.4% |
| 3 Bedrooms | $1.5M | $1.5M | +3.2% |
| 4 Bedrooms | $1.8M | $1.9M | +3.5% |
| 5+ Bedrooms | $2.3M | $2.3M | 0.2% |
Summary: Rancho Palos Verdes housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Palos Verdes Estates | $2.5M | $2.7M | +8.9% |
| Palos Verdes Peninsula | $2.3M | $2.5M | +6.4% |
| Rolling Hills | $4.4M | $4.7M | +5.6% |
| Rancho Palos Verdes | $1.6M | $1.7M | +5.4% |
| Rolling Hills Estates | $1.6M | $1.6M | +3.9% |
Housing Supply in Rancho Palos Verdes, CA
How many homes are available in Rancho Palos Verdes, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 174 | 162 | -6.9% |
Summary: The Rancho Palos Verdes real estate market had 162 homes for sale in November 2024, a 6.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 30 | 30 | 0.0% |
| 3 Bedrooms | 43 | 41 | -4.7% |
| 4 Bedrooms | 73 | 60 | -17.8% |
| 5+ Bedrooms | 26 | 28 | +7.7% |
Summary: The Rancho Palos Verdes housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 17.8%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 26 | -21.2% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rancho Palos Verdes, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Rancho Palos Verdes in November 2024, down by 21.2% month-over-month. Of the 26 sold homes, 65% were sold under asking, 8% were sold at asking, and 27% were sold over asking.
Days on Market for Rancho Palos Verdes, CA
How long does it take to sell a home in Rancho Palos Verdes, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 47 Days | +61.5% |
Summary: Homes in Rancho Palos Verdes had an average of 47 days on market in Nov 2024, up by 61.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rancho Palos Verdes are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 26 homes were sold in Rancho Palos Verdes; 50% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 15% 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.