Is Palos Verdes Drive East, 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 Drive East has remained a Seller's Market.
Key Takeaway
Palos Verdes Drive East is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palos Verdes Drive East, CA
How much do homes in Palos Verdes Drive East, CA cost?
Median Sold Price
$1,945,000
$739/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Palos Verdes Drive East have sold for 1% more than they did a year ago.
Summary: The median home sold price in Palos Verdes Drive East was $1,945,000 in March 2024, up 1% from last year, and the median price per square foot was $739.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.4M | $1.5M | +9.5% |
| 3 Bedrooms | $1.7M | $1.8M | +5.9% |
| 4 Bedrooms | $2.1M | $2.1M | -2.3% |
| 5+ Bedrooms | $2.6M | $2.1M | -17.9% |
Summary: Palos Verdes Drive East 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 9.5%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes decreased by 17.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Miraleste Pines | $500K | $525K | +5.0% |
| Eastview Rancho Palos Verdes | $1.2M | $1.2M | +3.3% |
| Mira Catalina | $1.8M | $1.9M | +2.4% |
| Palos Verdes Drive East | $1.9M | $1.9M | +1.0% |
Housing Supply in Palos Verdes Drive East, CA
How many homes are available in Palos Verdes Drive East, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 14 | -6.7% |
Summary: The Palos Verdes Drive East real estate market had 14 homes for sale in March 2024, a 6.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Palos Verdes Drive East housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Drive East, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Palos Verdes Drive East in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Palos Verdes Drive East, CA
How long does it take to sell a home in Palos Verdes Drive East, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 17 Days | -31.5% |
Summary: Homes in Palos Verdes Drive East had an average of 17 days on market in Mar 2024, down by 31.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palos Verdes Drive East are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Palos Verdes Drive East; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.