Is Palmdale, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Palmdale has remained a Seller's Market.
Housing Prices in Palmdale, CA
How much do homes in Palmdale, CA cost?
Median Sold Price
$500,000
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palmdale was $500,000 in March 2024, down 1% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $215K | N/A |
2 Bedrooms | $350K | $370K | +5.7% |
3 Bedrooms | $455K | $445K | -2.2% |
4 Bedrooms | $520.9K | $535.4K | +2.8% |
5+ Bedrooms | $629K | $625K | -0.6% |
Summary: Palmdale housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.7%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
Lancaster | $449.9K | $454.5K | +1.0% |
South Antelope Valley | $535K | $530.8K | -0.8% |
Palmdale | $505K | $500K | -1.0% |
Acton | $861.2K | $835K | -3.0% |
Housing Supply in Palmdale, CA
How many homes are available in Palmdale, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
330 | 351 | +6.4% |
Summary: The Palmdale real estate market had 351 homes for sale in March 2024, a 6.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 15 | 20 | +33.3% |
3 Bedrooms | 123 | 124 | +0.8% |
4 Bedrooms | 137 | 148 | +8.0% |
5+ Bedrooms | 54 | 56 | +3.7% |
Summary: The Palmdale housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 79 | +43.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 79 homes were sold or pending in Palmdale in March 2024, up by 43.6% month-over-month. Of the 79 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% were sold over asking.
Days on Market for Palmdale, CA
How long does it take to sell a home in Palmdale, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 44 Days | -14.4% |
Summary: Homes in Palmdale had an average of 44 days on market in Mar 2024, down by 14.4% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During March 2024, 79 homes were sold in Palmdale; 54% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.