Is Palos Verdes Peninsula, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Palos Verdes Peninsula has remained a Seller's Market.
Housing Prices in Palos Verdes Peninsula, CA
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,400,000
$931/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Palos Verdes Peninsula was $2,400,000 in February 2024, down 4% from last year, and the median price per square foot was $931.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $486.2K | $500K | +2.8% |
2 Bedrooms | $1.0M | $997.5K | -8.1% |
3 Bedrooms | $1.8M | $1.9M | 0.4% |
4 Bedrooms | $2.8M | $2.6M | -7.9% |
5+ Bedrooms | $4.2M | $4.3M | +4.3% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes decreased by 8.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
Rancho Palos Verdes | $1.7M | $1.6M | -1.9% |
Palos Verdes Peninsula | $2.5M | $2.4M | -4.0% |
Rolling Hills Estates | $1.8M | $1.6M | -8.3% |
Palos Verdes Estates | $2.9M | $2.5M | -11.6% |
Housing Supply in Palos Verdes Peninsula, CA
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
100 | 98 | -2.0% |
Summary: The Palos Verdes Peninsula real estate market had 98 homes for sale in February 2024, a 2.0% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 9 | 10 | +11.1% |
3 Bedrooms | 27 | 25 | -7.4% |
4 Bedrooms | 30 | 29 | -3.3% |
5+ Bedrooms | 32 | 33 | +3.1% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 3.1%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
23 | 20 | -13.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Palos Verdes Peninsula in February 2024, down by 13.0% month-over-month. Of the 20 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Palos Verdes Peninsula, CA
How long does it take to sell a home in Palos Verdes Peninsula, CA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
72 Days | 62 Days | -14.3% |
Summary: Homes in Palos Verdes Peninsula had an average of 62 days on market in Feb 2024, down by 14.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During February 2024, 20 homes were sold in Palos Verdes Peninsula; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.