Is Alhambra, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Alhambra is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Alhambra has remained a Seller's Market.

Key Takeaway

Alhambra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Alhambra, CA

How much do homes in Alhambra, CA cost?

Median Sold Price

$840,000

$597/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$34,333(+4.3%)

Key Takeaway

Homes in Alhambra have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Alhambra was $840,000 in February 2024, up 4.3% from last year, and the median price per square foot was $597.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $482.5K$475K
-1.6%
2 $730K$760K
+4.1%
3 $883.5K$910K
+3.0%
4 $944K$1.1M
+16.5%
5+ $1.1M$1.3M
+17.6%

Summary: Alhambra housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 17.6%.

Median Sold Price Compared To Nearby Cities

San Gabriel
+9.8%
Alhambra
+4.3%
Southwest San Gabriel Valley
+2.9%
Monterey Park
+1.1%
South Pasadena
0.2%

Housing Supply in Alhambra, CA

How many homes are available in Alhambra, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5562+12.7%

Summary: The Alhambra real estate market had 62 homes for sale in February 2024, a 12.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 22
0.0%
2 2226
+18.2%
3 1820
+11.1%
4 98
-11.1%
5+ 46
+50.0%

Summary: The Alhambra housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
817+112.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Alhambra, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in Alhambra in February 2024, up by 112.5% month-over-month. Of the 17 sold homes, 24% were sold under asking, 12% were sold at asking, and 65% were sold over asking.

Days on Market for Alhambra, CA

How long does it take to sell a home in Alhambra, CA?

Average Sale Time

Feb 2023Feb 2024CHANGE
37 Days20 Days-45.0%

Summary: Homes in Alhambra had an average of 20 days on market in Feb 2024, down by 45% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Alhambra are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 17 homes were sold in Alhambra; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

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