Is Palermo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, 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 in Palermo, CA
How much do homes in Palermo, CA cost?
Median Sold Price
$298,900
$346/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Palermo have sold for 19.2% less than they did a month ago.
Summary: The median home sold price in Palermo was $298,900 in March 2024, down 19.2% from last month, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | - | N/A |
| 2 Bedrooms | $370K | - | N/A |
| 3 Bedrooms | $390K | $298.9K | -23.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Palermo housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 23.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Palermo, CA
How many homes are available in Palermo, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Summary: The Palermo real estate market had 18 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palermo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palermo, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Palermo in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Palermo, CA
How long does it take to sell a home in Palermo, CA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 Days | 2 Days | -98.4% |
Summary: Homes in Palermo had an average of 2 days on market in Mar 2024, down by 98.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palermo are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Palermo; 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.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.