Is Palmdale, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Palmdale has remained a Seller's Market.
Key Takeaway
Palmdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmdale, CA
How much do homes in Palmdale, CA cost?
Median Sold Price
$500,000
$271/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Palmdale has remained the same since last year.
Summary: The median home sold price in Palmdale was $500,000 in May 2024, the same as last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.5K | $215K | +8.9% |
| 2 Bedrooms | $350K | $370K | +5.7% |
| 3 Bedrooms | $444.7K | $450K | +1.2% |
| 4 Bedrooms | $520K | $536.2K | +3.1% |
| 5+ Bedrooms | $615K | $638K | +3.7% |
Summary: Palmdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Lancaster | $440K | $460K | +4.5% |
| South Antelope Valley | $525K | $532K | +1.3% |
| Palmdale | $500K | $500K | 0.0% |
| Acton | $840K | $830K | -1.2% |
Housing Supply in Palmdale, CA
How many homes are available in Palmdale, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 391 | 423 | +8.2% |
Summary: The Palmdale real estate market had 423 homes for sale in May 2024, a 8.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 19 | 17 | -10.5% |
| 3 Bedrooms | 155 | 155 | 0.0% |
| 4 Bedrooms | 148 | 173 | +16.9% |
| 5+ Bedrooms | 68 | 76 | +11.8% |
Summary: The Palmdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 83 | 104 | +25.3% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmdale, you could pay more than the asking price. 41.3% of homes here sold above asking price last month.
Summary: A total of 104 homes were sold or pending in Palmdale in May 2024, up by 25.3% month-over-month. Of the 104 sold homes, 30% were sold under asking, 29% were sold at asking, and 41% were sold over asking.
Days on Market for Palmdale, CA
How long does it take to sell a home in Palmdale, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 24 Days | -22.7% |
Summary: Homes in Palmdale had an average of 24 days on market in May 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmdale are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 104 homes were sold in Palmdale; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% 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.