Is Monterey Park, 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, Monterey Park has remained a Seller's Market.
Housing Prices in Monterey Park, CA
How much do homes in Monterey Park, CA cost?
Median Sold Price
$860,000
$572/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Monterey Park was $860,000 in June 2024, up 0.4% from last year, and the median price per square foot was $572.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $350K | $418K | +19.4% |
2 Bedrooms | $525.8K | $668.5K | +27.1% |
3 Bedrooms | $845K | $850K | +0.6% |
4 Bedrooms | $940.2K | $1.0M | +12.5% |
5+ Bedrooms | $1.3M | $1.3M | 0.5% |
Summary: Monterey Park housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes increased by 27.1%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Alhambra | $799.6K | $875K | +9.4% |
Rosemead | $782.5K | $855K | +9.3% |
Southwest San Gabriel Valley | $812.5K | $880K | +8.3% |
Montebello | $725K | $750K | +3.4% |
Monterey Park | $856.5K | $860K | 0.4% |
Housing Supply in Monterey Park, CA
How many homes are available in Monterey Park, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
83 | 95 | +14.5% |
Summary: The Monterey Park real estate market had 95 homes for sale in June 2024, a 14.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 21 | 24 | +14.3% |
3 Bedrooms | 34 | 42 | +23.5% |
4 Bedrooms | 18 | 17 | -5.6% |
5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Monterey Park 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 increased by 14.3%, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
22 | 26 | +18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Monterey Park in June 2024, up by 18.2% month-over-month. Of the 26 sold homes, 15% were sold under asking, 4% were sold at asking, and 81% were sold over asking.
Days on Market for Monterey Park, CA
How long does it take to sell a home in Monterey Park, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 19 Days | +73.4% |
Summary: Homes in Monterey Park had an average of 19 days on market in Jun 2024, up by 73.4% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 26 homes were sold in Monterey Park; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.