Is Palms, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palms has remained a Seller's Market.
Housing Prices in Palms, CA
How much do homes in Palms, CA cost?
Median Sold Price
$1,400,000
$825/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palms was $1,400,000 in April 2024, up 30.2% from last year, and the median price per square foot was $825.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $515K | $517.5K | 0.5% |
2 Bedrooms | $822.5K | $846K | +2.9% |
3 Bedrooms | $1.3M | $1.4M | +12.0% |
4 Bedrooms | $1.8M | $2.2M | +19.6% |
5+ Bedrooms | $2.9M | $2.3M | -21.2% |
Summary: Palms housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes decreased by 21.2%.
Median Sold Price Compared To Nearby Neighborhoods
Westside Village | $1.1M | $1.5M | +35.2% |
Palms | $1.0M | $1.4M | +30.2% |
Cheviot Hills | $2.8M | $2.7M | -4.9% |
Housing Supply in Palms, CA
How many homes are available in Palms, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 42 | -8.7% |
Summary: The Palms real estate market had 42 homes for sale in April 2024, a 8.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 13 | 11 | -15.4% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Palms housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Palms in April 2024, down by 8.3% month-over-month. Of the 11 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for Palms, CA
How long does it take to sell a home in Palms, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 21 Days | +59.8% |
Summary: Homes in Palms had an average of 21 days on market in Apr 2024, up by 59.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Palms; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.