Is Palos Verdes Estates, 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, Palos Verdes Estates has remained a Seller's Market.
Key Takeaway
Palos Verdes Estates is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palos Verdes Estates, CA
How much do homes in Palos Verdes Estates, CA cost?
Median Sold Price
$2,632,500
$1,018/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palos Verdes Estates have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Palos Verdes Estates was $2,632,500 in May 2024, down 2.7% from last year, and the median price per square foot was $1,018.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.1M | $1.0M | -14.5% |
| 3 Bedrooms | $2.1M | $2.0M | -3.7% |
| 4 Bedrooms | $3.0M | $2.7M | -10.7% |
| 5+ Bedrooms | $4.1M | $4.4M | +5.5% |
Summary: Palos Verdes Estates housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.5%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
| Rancho Palos Verdes | $1.7M | $1.6M | -1.4% |
| Palos Verdes Estates | $2.7M | $2.6M | -2.7% |
| Torrance | $1.0M | $1.0M | -3.5% |
| Rolling Hills Estates | $1.7M | $1.6M | -7.8% |
Housing Supply in Palos Verdes Estates, CA
How many homes are available in Palos Verdes Estates, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 76 | +5.6% |
Summary: The Palos Verdes Estates real estate market had 76 homes for sale in May 2024, a 5.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 24 | 23 | -4.2% |
| 5+ Bedrooms | 23 | 25 | +8.7% |
Summary: The Palos Verdes Estates housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 8.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Estates, you may be able to get a good deal. 92.3% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Palos Verdes Estates in May 2024, down by 13.3% month-over-month. Of the 13 sold homes, 92% were sold under asking, 0% were sold at asking, and 8% were sold over asking.
Days on Market for Palos Verdes Estates, CA
How long does it take to sell a home in Palos Verdes Estates, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 28 Days | +57.3% |
Summary: Homes in Palos Verdes Estates had an average of 28 days on market in May 2024, up by 57.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palos Verdes Estates are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Palos Verdes Estates; 54% of homes were sold within 30 days, 46% 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.