Is Rancho Palos Verdes, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Rancho Palos Verdes has remained a Seller's Market.
Housing Prices in Rancho Palos Verdes, CA
How much do homes in Rancho Palos Verdes, CA cost?
Median Sold Price
$1,680,000
$781/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Rancho Palos Verdes was $1,680,000 in June 2024, down 1.2% from last year, and the median price per square foot was $781.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $536.5K | $562K | +4.8% |
2 Bedrooms | $860K | $1.0M | +16.3% |
3 Bedrooms | $1.4M | $1.5M | +4.1% |
4 Bedrooms | $1.8M | $1.9M | +3.3% |
5+ Bedrooms | $2.4M | $2.2M | -9.8% |
Summary: Rancho Palos Verdes housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 9.8%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $4.3M | $4.9M | +11.6% |
Palos Verdes Peninsula | $2.2M | $2.5M | +10.7% |
Palos Verdes Estates | $2.5M | $2.7M | +7.0% |
Rancho Palos Verdes | $1.7M | $1.6M | -1.2% |
Rolling Hills Estates | $1.7M | $1.6M | -4.2% |
Housing Supply in Rancho Palos Verdes, CA
How many homes are available in Rancho Palos Verdes, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
162 | 171 | +5.6% |
Summary: The Rancho Palos Verdes real estate market had 171 homes for sale in June 2024, a 5.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 14 | 15 | +7.1% |
3 Bedrooms | 45 | 51 | +13.3% |
4 Bedrooms | 69 | 72 | +4.3% |
5+ Bedrooms | 32 | 32 | 0.0% |
Summary: The Rancho Palos Verdes housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
42 | 34 | -19.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Rancho Palos Verdes in June 2024, down by 19.0% month-over-month. Of the 34 sold homes, 38% were sold under asking, 18% were sold at asking, and 44% were sold over asking.
Days on Market for Rancho Palos Verdes, CA
How long does it take to sell a home in Rancho Palos Verdes, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
20 Days | 29 Days | +42.7% |
Summary: Homes in Rancho Palos Verdes had an average of 29 days on market in Jun 2024, up by 42.7% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 34 homes were sold in Rancho Palos Verdes; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.