Is Palos Verdes, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Palos Verdes has remained a Seller's Market.
Housing Prices in Palos Verdes, CA
How much do homes in Palos Verdes, CA cost?
Median Sold Price
$1,750,000
$806/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palos Verdes was $1,750,000 in June 2024, up 2.5% from last year, and the median price per square foot was $806.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $472K | $556K | +17.8% |
2 Bedrooms | $810K | $867.5K | +7.1% |
3 Bedrooms | $1.4M | $1.6M | +12.3% |
4 Bedrooms | $2.0M | $2.0M | +3.4% |
5+ Bedrooms | $2.9M | $2.9M | +2.5% |
Summary: Palos Verdes housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $4.3M | $4.9M | +11.6% |
Palos Verdes Peninsula | $2.2M | $2.5M | +10.7% |
Palos Verdes | $1.7M | $1.7M | +2.5% |
Rancho Palos Verdes | $1.7M | $1.6M | -1.2% |
Rolling Hills Estates | $1.7M | $1.6M | -4.2% |
Housing Supply in Palos Verdes, CA
How many homes are available in Palos Verdes, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
326 | 347 | +6.4% |
Summary: The Palos Verdes real estate market had 347 homes for sale in June 2024, a 6.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 10 | -9.1% |
2 Bedrooms | 35 | 42 | +20.0% |
3 Bedrooms | 97 | 98 | +1.0% |
4 Bedrooms | 109 | 119 | +9.2% |
5+ Bedrooms | 74 | 78 | +5.4% |
Summary: The Palos Verdes housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
75 | 70 | -6.7% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Palos Verdes in June 2024, down by 6.7% month-over-month. Of the 70 sold homes, 39% were sold under asking, 14% were sold at asking, and 47% were sold over asking.
Days on Market for Palos Verdes, CA
How long does it take to sell a home in Palos Verdes, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
29 Days | 29 Days | +1.1% |
Summary: Homes in Palos Verdes had an average of 29 days on market in Jun 2024, up by 1.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During June 2024, 70 homes were sold in Palos Verdes; 71% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.