Is Palos Verdes, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Verdes is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, Palos Verdes has remained a Seller's Market.

Key Takeaway

Palos Verdes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Palos Verdes, CA cost?

Median Sold Price

$1,794,166

$815/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$138,308(+8.4%)

Key Takeaway

Homes in Palos Verdes have sold for 8.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $470K$485K
+3.2%
2 $730.2K$822.5K
+12.6%
3 $1.4M$1.4M
+2.2%
4 $1.9M$2.1M
+15.6%
5+ $2.8M$3.0M
+6.7%

Median Sold Price Compared To Nearby Cities

Palos Verdes Peninsula
+10.3%
Palos Verdes
+8.4%
Rancho Palos Verdes
+7.4%
Rolling Hills Estates
+5.9%

How many homes are available in Palos Verdes, CA?

Number of Homes For Sale

Dec 2022Jan 2023%
1861860.0%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 22
0.0%
2 2830
+7.1%
3 5052
+4.0%
4 6967
-2.9%
5+ 3735
-5.4%

Number of Homes Sold

Dec 2022Jan 2023%
4732-31.9%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palos Verdes, you may be able to get a good deal. 71.9% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
29 Days45 Days+53.5%

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palos Verdes are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Palos Verdes, CA

Number of homes for sale in Palos Verdes, CA real estate market have reached 186. While the average time on the market in January 2023 was 45 days, the median list price was $1,794,166. Real estate listing prices changed between December 2022 and January 2023: prices of 1 bedroom properties went up by 3.2%, 2 bedrooms properties prices increased by 12.6%, prices of 3 bedrooms properties increased by 2.2%, prices of 4 bedrooms properties increased by 15.6%, 5 bedrooms properties became 6.7% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, volume of 2 bedrooms homes went up by 7.1%, 3 bedrooms homes became 4% more available, the quantity of 4 bedrooms homes went down by 2.9%, the quantity of 5 bedrooms homes went down by 5.4%. While more than 3 listings in Palos Verdes, CA in January 2023 were sold above asking price, there were more than 6 listings sold at asking price, and more than 23 were sold below.

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