Is Lomita, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lomita was a Neutral Market.
Key Takeaway
Lomita is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lomita, CA
How much do homes in Lomita, CA cost?
Median Sold Price
$855,000
$556/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lomita have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Lomita was $855,000 in May 2024, up 2.4% from last year, and the median price per square foot was $556.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $377.5K | $380K | +0.7% |
| 2 Bedrooms | $631.2K | $657K | +4.1% |
| 3 Bedrooms | $850K | $880K | +3.5% |
| 4 Bedrooms | $1.2M | $985K | -17.9% |
| 5+ Bedrooms | $1.5M | $1.4M | -5.8% |
Summary: Lomita housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
| Lomita | $835K | $855K | +2.4% |
| Rancho Palos Verdes | $1.7M | $1.6M | -1.4% |
| Torrance | $1.0M | $1.0M | -3.5% |
| Rolling Hills Estates | $1.7M | $1.6M | -7.8% |
Housing Supply in Lomita, CA
How many homes are available in Lomita, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 32 | +39.1% |
Summary: The Lomita real estate market had 32 homes for sale in May 2024, a 39.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 4 | 9 | +125.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lomita housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 125%, 3 bedroom homes remained the same, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lomita, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Lomita in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Lomita, CA
How long does it take to sell a home in Lomita, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 10 Days | -79.9% |
Summary: Homes in Lomita had an average of 10 days on market in May 2024, down by 79.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lomita are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Lomita; 100% of homes were sold within 30 days, 0% 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.