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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rancho Palos Verdes is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, Rancho Palos Verdes has remained a Seller's Market.

Key Takeaway

Rancho Palos Verdes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Rancho Palos Verdes, CA cost?

Median Sold Price

$1,750,000

$799/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$120,000(+7.4%)

Key Takeaway

Homes in Rancho Palos Verdes have sold for 7.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $507.5K$550K
+8.4%
2 $779K$890K
+14.2%
3 $1.4M$1.5M
+4.8%
4 $1.7M$1.9M
+9.3%
5+ $2.2M$2.3M
+7.8%

Median Sold Price Compared To Nearby Cities

Palos Verdes Estates
+17.4%
Palos Verdes Peninsula
+10.3%
Rancho Palos Verdes
+7.4%
Rolling Hills Estates
+5.9%

How many homes are available in Rancho Palos Verdes, CA?

Number of Homes For Sale

Dec 2022Jan 2023%
10094-6.0%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 00
0.0%
2 1615
-6.3%
3 3028
-6.7%
4 3735
-5.4%
5+ 1716
-5.9%

Number of Homes Sold

Dec 2022Jan 2023%
2620-23.1%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rancho Palos Verdes, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
30 Days51 Days+70.8%

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Rancho Palos Verdes has remained consistent over time.

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

About Rancho Palos Verdes, CA

There are 94 homes are for sale in Rancho Palos Verdes, CA real estate market. The number of listings in Rancho Palos Verdes, CA decreased by 6% between December 2022 and January 2023. Listings spent 51 days on the market in January 2023, and had a median list price of $1,750,000 during the same period. Real estate listing prices changed between December 2022 and January 2023: the cost of 1 bedroom properties went up by 8.4%, the cost of 2 bedrooms properties went up by 14.2%, 3 bedrooms properties prices increased by 4.8%, 4 bedrooms properties became 9.3% more expensive, 5 bedrooms properties prices increased by 7.8%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, number of 2 bedrooms homes decreased by 6.3%, volume of 3 bedrooms homes went down by 6.7%, 4 bedrooms homes became 5.4% less available, 5 bedrooms homes inventory decreased by 5.9%. In January 2023, from all listings sold in Rancho Palos Verdes, CA there were more than 1 sold above asking price, over 15 sold below and more than 4 were sold right at the asked price.

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