Is La Palma, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, La Palma has remained a Seller's Market.
Housing Prices in La Palma, CA
How much do homes in La Palma, CA cost?
Median Sold Price
$1,017,000
$545/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in La Palma was $1,017,000 in March 2024, up 6.2% from last year, and the median price per square foot was $545.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $571K | $625K | +9.5% |
3 Bedrooms | $885K | $899.5K | +1.6% |
4 Bedrooms | $1.0M | $1.0M | +3.8% |
5+ Bedrooms | $997.5K | $1.2M | +22.1% |
Summary: La Palma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
Cypress | $850K | $965K | +13.5% |
La Palma | $957.5K | $1.0M | +6.2% |
Cerritos | $950.7K | $1.0M | +5.6% |
Downey-Norwalk | $725K | $750K | +3.4% |
Buena Park | $821.1K | $844.2K | +2.8% |
Housing Supply in La Palma, CA
How many homes are available in La Palma, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 14 | -26.3% |
Summary: The La Palma real estate market had 14 homes for sale in March 2024, a 26.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 7 | 4 | -42.9% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The La Palma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 42.9%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 3 | -70.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in La Palma in March 2024, down by 70.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for La Palma, CA
How long does it take to sell a home in La Palma, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 9 Days | -81.0% |
Summary: Homes in La Palma had an average of 9 days on market in Mar 2024, down by 81% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in La Palma; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.