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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palermo is a buyer's market

Buyer's
Market

Difference Since September 2023

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 in Palermo, CA

How much do homes in Palermo, CA cost?

Median Sold Price

$392,500

$300/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,500(+6.1%)

Key Takeaway

Homes in Palermo have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Palermo was $392,500 in September 2024, up 6.1% from last year, and the median price per square foot was $300.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$212K
N/A
2 $299K$334.5K
+11.9%
3 $372.5K$405K
+8.7%
4 $250K$442.5K
+77.0%
5+ $812.5K$425K
-47.7%

Summary: Palermo housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 77%, and 5+ bedroom homes decreased by 47.7%.

Median Sold Price Compared To Nearby Cities

Palermo
+6.1%
Oroville
+3.3%

Housing Supply in Palermo, CA

How many homes are available in Palermo, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1822+22.2%

Summary: The Palermo real estate market had 22 homes for sale in September 2024, a 22.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 44
0.0%
3 1014
+40.0%
4 22
0.0%
5+ 22
0.0%

Summary: The Palermo housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palermo, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Palermo in September 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% 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

Sep 2023Sep 2024CHANGE
51 Days86 Days+67.8%

Summary: Homes in Palermo had an average of 86 days on market in Sep 2024, up by 67.8% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Palermo has remained consistent over time.

Summary: During September 2024, 1 homes were sold in Palermo; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 14 Days Ago

Newest Listings in Palermo, CA

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