Is La Palma, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$1,082,500
$581/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in La Palma was $1,082,500 in June 2024, up 11.6% from last year, and the median price per square foot was $581.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $569K | $625K | +9.8% |
3 Bedrooms | $875K | $939.9K | +7.4% |
4 Bedrooms | $1.0M | $1.1M | +10.4% |
5+ Bedrooms | $972.5K | $1.2M | +33.3% |
Summary: La Palma housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 33.3%.
Median Sold Price Compared To Nearby Cities
Cypress | $844K | $975K | +15.5% |
Cerritos | $930K | $1.0M | +12.9% |
La Palma | $970K | $1.0M | +11.6% |
Buena Park | $810K | $870K | +7.4% |
Downey-Norwalk | $715.4K | $760K | +6.2% |
Housing Supply in La Palma, CA
How many homes are available in La Palma, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
28 | 21 | -25.0% |
Summary: The La Palma real estate market had 21 homes for sale in June 2024, a 25.0% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 7 | 4 | -42.9% |
4 Bedrooms | 15 | 14 | -6.7% |
5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The La Palma housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in La Palma in June 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 7 Days | -29.5% |
Summary: Homes in La Palma had an average of 7 days on market in Jun 2024, down by 29.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 8 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.