Is Southwest San Gabriel Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Southwest San Gabriel Valley has remained a Seller's Market.
Key Takeaway
Southwest San Gabriel Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest San Gabriel Valley, CA
How much do homes in Southwest San Gabriel Valley, CA cost?
Median Sold Price
$850,055
$576/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southwest San Gabriel Valley have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Southwest San Gabriel Valley was $850,055 in March 2024, up 2.9% from last year, and the median price per square foot was $576.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $450K | $425K | -5.6% |
| 2 Bedrooms | $700K | $716.5K | +2.4% |
| 3 Bedrooms | $831K | $842.2K | +1.3% |
| 4 Bedrooms | $950K | $1.0M | +9.1% |
| 5+ Bedrooms | $1.1M | $1.3M | +20.7% |
Summary: Southwest San Gabriel Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 20.7%.
Median Sold Price Compared To Nearby Cities
| San Gabriel | $950.5K | $1.1M | +19.9% |
| Rosemead | $800K | $845K | +5.6% |
| Alhambra | $803.3K | $831K | +3.4% |
| Southwest San Gabriel Valley | $825.7K | $850K | +2.9% |
| Monterey Park | $855K | $858K | 0.4% |
Housing Supply in Southwest San Gabriel Valley, CA
How many homes are available in Southwest San Gabriel Valley, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 273 | 298 | +9.2% |
Summary: The Southwest San Gabriel Valley real estate market had 298 homes for sale in March 2024, a 9.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 74 | 79 | +6.8% |
| 3 Bedrooms | 116 | 132 | +13.8% |
| 4 Bedrooms | 49 | 46 | -6.1% |
| 5+ Bedrooms | 30 | 36 | +20.0% |
Summary: The Southwest San Gabriel Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 72 | 85 | +18.1% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest San Gabriel Valley, you could pay more than the asking price. 61.2% of homes here sold above asking price last month.
Summary: A total of 85 homes were sold or pending in Southwest San Gabriel Valley in March 2024, up by 18.1% month-over-month. Of the 85 sold homes, 28% were sold under asking, 11% were sold at asking, and 61% were sold over asking.
Days on Market for Southwest San Gabriel Valley, CA
How long does it take to sell a home in Southwest San Gabriel Valley, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 24 Days | -40.0% |
Summary: Homes in Southwest San Gabriel Valley had an average of 24 days on market in Mar 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest San Gabriel Valley are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 85 homes were sold in Southwest San Gabriel Valley; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.