Is Southwest San Gabriel Valley, 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, Southwest San Gabriel Valley has remained a Seller's Market.
Key Takeaway
Southwest San Gabriel Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest San Gabriel Valley, CA
How much do homes in Southwest San Gabriel Valley, CA cost?
Median Sold Price
$866,660
$580/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southwest San Gabriel Valley have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Southwest San Gabriel Valley was $866,660 in May 2024, up 7.2% from last year, and the median price per square foot was $580.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $477.5K | $421.5K | -11.7% |
| 2 Bedrooms | $700K | $718.6K | +2.7% |
| 3 Bedrooms | $813.2K | $854.6K | +5.1% |
| 4 Bedrooms | $940K | $1.0M | +11.7% |
| 5+ Bedrooms | $1.1M | $1.3M | +24.8% |
Summary: Southwest San Gabriel Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.7%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 24.8%.
Median Sold Price Compared To Nearby Cities
| San Gabriel | $938K | $1.1M | +23.5% |
| Rosemead | $776K | $850K | +9.5% |
| Alhambra | $801.6K | $860K | +7.3% |
| Southwest San Gabriel Valley | $808.5K | $866.6K | +7.2% |
| Monterey Park | $851K | $858.3K | +0.9% |
Housing Supply in Southwest San Gabriel Valley, CA
How many homes are available in Southwest San Gabriel Valley, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 328 | 356 | +8.5% |
Summary: The Southwest San Gabriel Valley real estate market had 356 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 7 | +133.3% |
| 2 Bedrooms | 84 | 91 | +8.3% |
| 3 Bedrooms | 145 | 153 | +5.5% |
| 4 Bedrooms | 64 | 70 | +9.4% |
| 5+ Bedrooms | 32 | 35 | +9.4% |
Summary: The Southwest San Gabriel Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 9.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 105 | +8.2% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
69 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest San Gabriel Valley, you could pay more than the asking price. 65.7% of homes here sold above asking price last month.
Summary: A total of 105 homes were sold or pending in Southwest San Gabriel Valley in May 2024, up by 8.2% month-over-month. Of the 105 sold homes, 18% were sold under asking, 16% were sold at asking, and 66% were sold over asking.
Days on Market for Southwest San Gabriel Valley, CA
How long does it take to sell a home in Southwest San Gabriel Valley, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 23 Days | -30.8% |
Summary: Homes in Southwest San Gabriel Valley had an average of 23 days on market in May 2024, down by 30.8% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest San Gabriel Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 105 homes were sold in Southwest San Gabriel Valley; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% 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.