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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Verdes Estates is a seller's market

Buyer's
Market

Difference Since January 2023

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

Key Takeaway

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

Housing Prices in Palos Verdes Estates, CA

How much do homes in Palos Verdes Estates, CA cost?

Median Sold Price

$2,600,000

$1,012/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$284,250(-9.9%)

Key Takeaway

Homes in Palos Verdes Estates have sold for 9.9% less than they did a year ago.

Summary: The median home sold price in Palos Verdes Estates was $2,600,000 in January 2024, down 9.9% from last year, and the median price per square foot was $1,012.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 --
N/A
2 $1.7M$1.3M
-23.5%
3 $2.2M$2.1M
-8.1%
4 $3.0M$2.7M
-8.8%
5+ $4.2M$4.6M
+8.0%

Summary: Palos Verdes Estates housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.5%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Cities

Rancho Palos Verdes
-5.5%
Palos Verdes Peninsula
-6.9%
Palos Verdes Estates
-9.9%
Rolling Hills Estates
-10.9%
Torrance
-11.0%

Housing Supply in Palos Verdes Estates, CA

How many homes are available in Palos Verdes Estates, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
4858+20.8%

Summary: The Palos Verdes Estates real estate market had 58 homes for sale in January 2024, a 20.8% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1215
+25.0%
4 1518
+20.0%
5+ 1922
+15.8%

Summary: The Palos Verdes Estates housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 15.8%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
712+71.4%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palos Verdes Estates, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Palos Verdes Estates in January 2024, up by 71.4% month-over-month. Of the 12 sold homes, 83% were sold under asking, 8% were sold at asking, and 8% were sold over asking.

Days on Market for Palos Verdes Estates, CA

How long does it take to sell a home in Palos Verdes Estates, CA?

Average Sale Time

Jan 2023Jan 2024CHANGE
45 Days54 Days+20.1%

Summary: Homes in Palos Verdes Estates had an average of 54 days on market in Jan 2024, up by 20.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Palos Verdes Estates has remained consistent over time.

Summary: During January 2024, 12 homes were sold in Palos Verdes Estates; 33% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

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

Report Updated 20 Days Ago

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