Is Palos Verdes, 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, 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
$1,756,250
$806/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palos Verdes was $1,756,250 in March 2024, up 2.8% from last year, and the median price per square foot was $806.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $485K | $565K | +16.5% |
2 Bedrooms | $815K | $860K | +5.5% |
3 Bedrooms | $1.4M | $1.6M | +12.3% |
4 Bedrooms | $2.0M | $2.0M | +0.7% |
5+ Bedrooms | $2.8M | $2.9M | +4.4% |
Summary: Palos Verdes housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Cities
Palos Verdes Peninsula | $2.3M | $2.4M | +6.3% |
Palos Verdes | $1.7M | $1.7M | +2.8% |
Rancho Palos Verdes | $1.7M | $1.7M | +0.9% |
Rolling Hills Estates | $1.7M | $1.6M | -3.0% |
Housing Supply in Palos Verdes, CA
How many homes are available in Palos Verdes, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
247 | 269 | +8.9% |
Summary: The Palos Verdes real estate market had 269 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 40 | 36 | -10.0% |
3 Bedrooms | 63 | 68 | +7.9% |
4 Bedrooms | 80 | 91 | +13.8% |
5+ Bedrooms | 55 | 64 | +16.4% |
Summary: The Palos Verdes housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 16.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 63 | +34.0% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Palos Verdes in March 2024, up by 34.0% month-over-month. Of the 63 sold homes, 46% were sold under asking, 6% were sold at asking, and 48% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 40 Days | +31.4% |
Summary: Homes in Palos Verdes had an average of 40 days on market in Mar 2024, up by 31.4% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 63 homes were sold in Palos Verdes; 67% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.