Is Palos Verdes Estates, 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 Estates has remained a Seller's Market.
Housing Prices in Palos Verdes Estates, CA
How much do homes in Palos Verdes Estates, CA cost?
Median Sold Price
$2,600,000
$1,020/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palos Verdes Estates was $2,600,000 in March 2024, down 4.7% from last year, and the median price per square foot was $1,020.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $1.2M | $1.3M | +9.8% |
3 Bedrooms | $2.1M | $2.0M | -4.0% |
4 Bedrooms | $3.0M | $2.7M | -11.4% |
5+ Bedrooms | $4.1M | $4.4M | +6.2% |
Summary: Palos Verdes Estates 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 9.8%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
Palos Verdes Peninsula | $2.3M | $2.4M | +6.3% |
Rancho Palos Verdes | $1.7M | $1.7M | +0.9% |
Rolling Hills Estates | $1.7M | $1.6M | -3.0% |
Palos Verdes Estates | $2.7M | $2.6M | -4.7% |
Torrance | $1.0M | $1.0M | -7.8% |
Housing Supply in Palos Verdes Estates, CA
How many homes are available in Palos Verdes Estates, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 67 | +6.3% |
Summary: The Palos Verdes Estates real estate market had 67 homes for sale in March 2024, a 6.3% increase 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 | 4 | 3 | -25.0% |
3 Bedrooms | 14 | 15 | +7.1% |
4 Bedrooms | 26 | 28 | +7.7% |
5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Palos Verdes Estates 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 decreased by 25%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 16 | +45.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Palos Verdes Estates in March 2024, up by 45.5% month-over-month. Of the 16 sold homes, 69% were sold under asking, 13% were sold at asking, and 19% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 50 Days | +22.3% |
Summary: Homes in Palos Verdes Estates had an average of 50 days on market in Mar 2024, up by 22.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Palos Verdes Estates; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.