Is La Palma, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$980,000
$542/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in La Palma was $980,000 in February 2024, up 0.5% from last year, and the median price per square foot was $542.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $562K | $620K | +10.3% |
3 Bedrooms | $885K | $894.5K | +1.1% |
4 Bedrooms | $1.0M | $1.0M | -4.0% |
5+ Bedrooms | $1.0M | $1.2M | +19.4% |
Summary: La Palma housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 19.4%.
Median Sold Price Compared To Nearby Cities
Cypress | $870K | $930K | +6.9% |
Cerritos | $965K | $995K | +3.1% |
Downey-Norwalk | $730K | $746.3K | +2.2% |
La Palma | $975K | $980K | 0.5% |
Buena Park | $826.8K | $830K | 0.4% |
Housing Supply in La Palma, CA
How many homes are available in La Palma, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
18 | 16 | -11.1% |
Summary: The La Palma real estate market had 16 homes for sale in February 2024, a 11.1% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The La Palma 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 decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 10 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in La Palma in February 2024, up by 66.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 0% were sold at asking, and 70% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
51 Days | 17 Days | -67.1% |
Summary: Homes in La Palma had an average of 17 days on market in Feb 2024, down by 67.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 10 homes were sold in La Palma; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.