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 April 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
$1,695,000
$789/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rancho Palos Verdes was $1,695,000 in April 2024, down 0.3% from last year, and the median price per square foot was $789.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $550K | $568.5K | +3.4% |
2 Bedrooms | $840K | $1.0M | +20.5% |
3 Bedrooms | $1.4M | $1.5M | +4.7% |
4 Bedrooms | $1.8M | $1.8M | -0.6% |
5+ Bedrooms | $2.4M | $2.3M | -4.6% |
Summary: Rancho Palos Verdes housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 20.5%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $3.6M | $4.9M | +36.1% |
Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
Rancho Palos Verdes | $1.7M | $1.6M | -0.3% |
Palos Verdes Estates | $2.7M | $2.6M | -2.2% |
Rolling Hills Estates | $1.7M | $1.7M | -4.9% |
Housing Supply in Rancho Palos Verdes, CA
How many homes are available in Rancho Palos Verdes, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
132 | 158 | +19.7% |
Summary: The Rancho Palos Verdes real estate market had 158 homes for sale in April 2024, a 19.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 21 | 24 | +14.3% |
3 Bedrooms | 29 | 39 | +34.5% |
4 Bedrooms | 54 | 62 | +14.8% |
5+ Bedrooms | 23 | 28 | +21.7% |
Summary: The Rancho Palos Verdes housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 21.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 40 | +60.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Rancho Palos Verdes in April 2024, up by 60.0% month-over-month. Of the 40 sold homes, 35% were sold under asking, 15% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 31 Days | -37.9% |
Summary: Homes in Rancho Palos Verdes had an average of 31 days on market in Apr 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 40 homes were sold in Rancho Palos Verdes; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.