Is Monterey Park, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monterey Park is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, Monterey Park has remained a Seller's Market.

Key Takeaway

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

How much do homes in Monterey Park, CA cost?

Median Sold Price

$850,250

$560/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$19,983(+2.4%)

Key Takeaway

Homes in Monterey Park have sold for 2.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $328.9K$362K
+10.1%
2 $568K$555.5K
-2.2%
3 $795K$832.5K
+4.7%
4 $930K$977K
+5.1%
5+ $1.0M$1.2M
+11.6%

Median Sold Price Compared To Nearby Cities

Montebello
+13.2%
Southwest San Gabriel Valley
+7.5%
Monterey Park
+2.4%

How many homes are available in Monterey Park, CA?

Number of Homes For Sale

Dec 2022Jan 2023%
6860-11.8%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 21
-50.0%
2 88
0.0%
3 3932
-17.9%
4 1314
+7.7%
5+ 65
-16.7%

Number of Homes Sold

Dec 2022Jan 2023%
2216-27.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monterey Park, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
23 Days45 Days+91.2%

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Monterey Park has remained consistent over time.

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

About Monterey Park, CA

Monterey Park, CA has 60 homes for sale to choose from. Between December 2022 and January 2023, Monterey Park, CA real estate market has seen decrease in the number of listings by 11.8%. In January 2023 median list price was $850,250 and the average listing age was 45 days. Real estate listing prices changed between December 2022 and January 2023: 1 bedroom properties prices increased by 10.1%, prices of 2 bedrooms properties went down by 2.2%, 3 bedrooms properties became 4.7% more expensive, 4 bedrooms properties prices increased by 5.1%, 5 bedrooms properties prices increased by 11.6%. Housing inventory have changed in this real estate market: 1 bedroom homes became 50% less available, volume of 2 bedrooms homes stayed the same, the quantity of 3 bedrooms homes went down by 17.9%, the quantity of 4 bedrooms homes went up by 7.7%, the quantity of 5 bedrooms homes went down by 16.7%. While more than 4 listings in Monterey Park, CA in January 2023 were sold above asking price, there were more than 1 listings sold at asking price, and more than 11 were sold below.

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