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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palos Verdes Peninsula is a buyer'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

# BEDSSep 2023Sep 2024CHANGE
1 $478.5K$650K
+35.8%
2 $915K$954K
+4.3%
3 $1.8M$1.9M
+3.9%
4 $2.5M$2.9M
+17.3%
5+ $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
+13.1%
Palos Verdes Estates
+12.2%
Rancho Palos Verdes
+7.7%
Rolling Hills Estates
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 2024Sep 2024CHANGE
111118+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

# BEDSAug 2024Sep 2024CHANGE
1 01
+100.0%
2 77
0.0%
3 3635
-2.8%
4 3945
+15.4%
5+ 2930
+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 2024Sep 2024CHANGE
249-62.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 2023Sep 2024CHANGE
44 Days58 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

Breakdown of Home Sale Times

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.

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

Report Updated 30 Days Ago

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