Is The Verdugos, 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, The Verdugos has remained a Seller's Market.
Key Takeaway
The Verdugos is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in The Verdugos, CA
How much do homes in The Verdugos, CA cost?
Median Sold Price
$1,245,197
$762/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in The Verdugos have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in The Verdugos was $1,245,197 in May 2024, up 7.4% from last year, and the median price per square foot was $762.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $547.5K | $566K | +3.4% |
| 2 Bedrooms | $819.3K | $888.7K | +8.5% |
| 3 Bedrooms | $1.2M | $1.3M | +4.0% |
| 4 Bedrooms | $1.6M | $1.7M | +8.4% |
| 5+ Bedrooms | $2.4M | $2.5M | +5.1% |
Summary: The Verdugos housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Rancho San Rafael | $1.2M | $1.3M | +13.6% |
| The Verdugos | $1.1M | $1.2M | +7.4% |
| Eagle Rock | $1.3M | $1.2M | -4.2% |
Housing Supply in The Verdugos, CA
How many homes are available in The Verdugos, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 857 | 921 | +7.5% |
Summary: The The Verdugos real estate market had 921 homes for sale in May 2024, a 7.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 52 | 57 | +9.6% |
| 2 Bedrooms | 241 | 253 | +5.0% |
| 3 Bedrooms | 314 | 349 | +11.1% |
| 4 Bedrooms | 149 | 158 | +6.0% |
| 5+ Bedrooms | 101 | 104 | +3.0% |
Summary: The The Verdugos housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 254 | 273 | +7.5% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
185 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in The Verdugos, you could pay more than the asking price. 67.8% of homes here sold above asking price last month.
Summary: A total of 273 homes were sold or pending in The Verdugos in May 2024, up by 7.5% month-over-month. Of the 273 sold homes, 22% were sold under asking, 10% were sold at asking, and 68% were sold over asking.
Days on Market for The Verdugos, CA
How long does it take to sell a home in The Verdugos, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 25 Days | -11.8% |
Summary: Homes in The Verdugos had an average of 25 days on market in May 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
219 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in The Verdugos are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 273 homes were sold in The Verdugos; 80% of homes were sold within 30 days, 15% 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.