Is Palmdale, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Palmdale has remained a Seller's Market.
Key Takeaway
Palmdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Palmdale, CA cost?
Median Sold Price
$490,675
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Palmdale have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Palmdale was $490,675 in August 2023, down 2.5% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162K | $206K | +27.2% |
| 2 Bedrooms | $360K | $350K | -2.8% |
| 3 Bedrooms | $454.5K | $440K | -3.2% |
| 4 Bedrooms | $530K | $520K | -1.9% |
| 5+ Bedrooms | $625K | $601K | -3.8% |
Summary: Palmdale housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 27.2%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
| South Antelope Valley | $530.3K | $520.6K | -1.8% |
| Lancaster | $450K | $440K | -2.2% |
| Palmdale | $503.1K | $490.6K | -2.5% |
| Acton | $867.5K | $830K | -4.3% |
Housing Supply
How many homes are available in Palmdale, CA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 353 | 355 | +0.6% |
Summary: The Palmdale real estate market had 355 homes for sale in August 2023, a 0.6% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 22 | 16 | -27.3% |
| 3 Bedrooms | 139 | 128 | -7.9% |
| 4 Bedrooms | 145 | 152 | +4.8% |
| 5+ Bedrooms | 45 | 58 | +28.9% |
Summary: The Palmdale housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 27.3%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 28.9%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 104 | 80 | -23.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmdale, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 80 homes were sold or pending in Palmdale in August 2023, down by 23.1% month-over-month. Of the 80 sold homes, 28% were sold under asking, 19% were sold at asking, and 54% were sold over asking.
Days on Market
How long does it take to sell a home in Palmdale, CA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 29 Days | 29 Days | 0.2% |
Summary: Homes in Palmdale had an average of 29 days on market in Aug 2023, up by 0.2% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmdale are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 80 homes were sold in Palmdale; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% 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.