$3,265,000
2,542 SqFt
3 Beds
•2 Full Baths, 1 Partial
Bill Davis, Listing Office: Palm Realty Boutique
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 September 2023
At the same time last year, Palos Verdes Peninsula was a Seller's Market.
Key Takeaway
Palos Verdes Peninsula is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palos Verdes Peninsula, CA
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,600,000
$933/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$300,500(+13.1%)
Key Takeaway
Homes in Palos Verdes Peninsula have sold for 13.1% more than they did a year ago.
Summary: The median home sold price in Palos Verdes Peninsula was $2,600,000 in September 2024, up 13.1% from last year, and the median price per square foot was $933.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $478.5K | $650K | +35.8% |
| 2 Bedrooms | $915K | $954K | +4.3% |
| 3 Bedrooms | $1.8M | $1.9M | +3.9% |
| 4 Bedrooms | $2.5M | $2.9M | +17.3% |
| 5+ Bedrooms | $4.3M | $4.1M | -4.7% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.8%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Palos Verdes Peninsula | $2.2M | $2.6M | +13.1% |
| Palos Verdes Estates | $2.5M | $2.8M | +12.2% |
| Rancho Palos Verdes | $1.6M | $1.7M | +7.7% |
| Rolling Hills Estates | $1.6M | $1.7M | 0.1% |
Housing Supply in Palos Verdes Peninsula, CA
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 111 | 118 | +6.3% |
Summary: The Palos Verdes Peninsula real estate market had 118 homes for sale in September 2024, a 6.3% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 36 | 35 | -2.8% |
| 4 Bedrooms | 39 | 45 | +15.4% |
| 5+ Bedrooms | 29 | 30 | +3.4% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 24 | 9 | -62.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Peninsula, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Palos Verdes Peninsula in September 2024, down by 62.5% month-over-month. Of the 9 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 44 Days | 58 Days | +31.6% |
Summary: Homes in Palos Verdes Peninsula had an average of 58 days on market in Sep 2024, up by 31.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palos Verdes Peninsula are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 9 homes were sold in Palos Verdes Peninsula; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% 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.