Is Panorama City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Panorama City was a Neutral Market.
Housing Prices in Panorama City, CA
How much do homes in Panorama City, CA cost?
Median Sold Price
$640,000
$436/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Panorama City was $640,000 in February 2024, down 1.5% from last year, and the median price per square foot was $436.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $310K | $315K | +1.6% |
2 Bedrooms | $472.9K | $461.9K | -2.3% |
3 Bedrooms | $655K | $655K | 0.0% |
4 Bedrooms | $750K | $720K | -4.0% |
5+ Bedrooms | $885K | $2.2M | +148.6% |
Summary: Panorama City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes did not change, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 148.6%.
Median Sold Price Compared To Nearby Neighborhoods
North Hills | $820K | $845K | +3.0% |
The San Fernando Valley | $885.8K | $889.8K | 0.5% |
Arleta | $740K | $735K | -0.7% |
Panorama City | $650K | $640K | -1.5% |
Mission Hills | $775K | $763K | -1.5% |
Housing Supply in Panorama City, CA
How many homes are available in Panorama City, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
55 | 57 | +3.6% |
Summary: The Panorama City real estate market had 57 homes for sale in February 2024, a 3.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 15 | 17 | +13.3% |
3 Bedrooms | 28 | 29 | +3.6% |
4 Bedrooms | 7 | 6 | -14.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Panorama City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Panorama City in February 2024, up by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 33% were sold at asking, and 42% were sold over asking.
Days on Market for Panorama City, CA
How long does it take to sell a home in Panorama City, CA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
34 Days | 48 Days | +43.4% |
Summary: Homes in Panorama City had an average of 48 days on market in Feb 2024, up by 43.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 12 homes were sold in Panorama City; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.