Is Palermo, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Palermo is a buyer's market


Difference Since August 2022

At the same time last year, Palermo was a Seller's Market.

Key Takeaway

Palermo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices

How much do homes in Palermo, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Palermo have sold for 28.6% less than they did a year ago.

Summary: The median home sold price in Palermo was $375,000 in August 2023, down 28.6% from last year, and the median price per square foot was $243.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $175K-
2 $206.2K$318K
3 $500K$375K
4 $757K$250K
5+ $1.7M$812.5K

Summary: Palermo housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.2%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 67%, and 5+ bedroom homes decreased by 53.4%.

Median Sold Price Compared To Nearby Cities


Housing Supply

How many homes are available in Palermo, CA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Palermo real estate market had 30 homes for sale in August 2023, a 3.2% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 11
2 86
3 1819
4 22
5+ 22

Summary: The Palermo housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palermo, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Palermo in August 2023, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market

How long does it take to sell a home in Palermo, CA?

Average Sale Time

Aug 2022Aug 2023CHANGE
59 Days73 Days+23.8%

Summary: Homes in Palermo had an average of 73 days on market in Aug 2023, up by 23.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 3 homes were sold in Palermo; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 25 Days Ago

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Nearby Markets

What housing markets are near Palermo, CA?