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 August 2022
Since last year, Palos Verdes Peninsula has remained a Seller's Market.
Key Takeaway
Palos Verdes Peninsula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,220,333
$901/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Palos Verdes Peninsula have sold for 14.2% less than they did a year ago.
Summary: The median home sold price in Palos Verdes Peninsula was $2,220,333 in August 2023, down 14.2% from last year, and the median price per square foot was $901.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $467.5K | $485K | +3.7% |
| 2 Bedrooms | $999K | $1.0M | +7.1% |
| 3 Bedrooms | $1.9M | $1.8M | -4.9% |
| 4 Bedrooms | $2.8M | $2.5M | -10.3% |
| 5+ Bedrooms | $4.2M | $4.5M | +9.3% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
| Rancho Palos Verdes | $1.7M | $1.6M | -5.8% |
| Rolling Hills Estates | $1.8M | $1.6M | -8.2% |
| Palos Verdes Estates | $2.8M | $2.5M | -8.9% |
| Palos Verdes Peninsula | $2.5M | $2.2M | -14.2% |
Housing Supply
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 102 | 102 | 0.0% |
Summary: The Palos Verdes Peninsula real estate market had 102 homes for sale in August 2023, the same as July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 27 | 23 | -14.8% |
| 4 Bedrooms | 36 | 34 | -5.6% |
| 5+ Bedrooms | 29 | 35 | +20.7% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for August 2023 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 14.8%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 20.7%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Peninsula, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Palos Verdes Peninsula in August 2023, the same as the previous month. Of the 20 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market
How long does it take to sell a home in Palos Verdes Peninsula, CA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 19 Days | 40 Days | +105.7% |
Summary: Homes in Palos Verdes Peninsula had an average of 40 days on market in Aug 2023, up by 105.7% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 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 August 2023, 20 homes were sold in Palos Verdes Peninsula; 75% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 15% 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.