Is La Palma, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing La Palma is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

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

+$59,500(+6.2%)

Key Takeaway

Homes in La Palma have sold for 6.2% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $571K$625K
+9.5%
3 $885K$899.5K
+1.6%
4 $1.0M$1.0M
+3.8%
5+ $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
+13.5%
La Palma
+6.2%
Cerritos
+5.6%
Downey-Norwalk
+3.4%
Buena Park
+2.8%

Housing Supply in La Palma, CA

How many homes are available in La Palma, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1914-26.3%

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

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 11
0.0%
3 74
-42.9%
4 76
-14.3%
5+ 43
-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 2024Mar 2024CHANGE
103-70.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in La Palma, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

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 2023Mar 2024CHANGE
49 Days9 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 24 Days Ago

Newest Listings in La Palma, CA

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