Is Southwest San Gabriel Valley, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southwest San Gabriel Valley is a seller's market

Buyer's
Market

Difference Since February 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

$850,000

$576/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$24,250(+2.9%)

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 $850,000 in February 2024, up 2.9% from last year, and the median price per square foot was $576.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $465K$418K
-10.1%
2 $700K$725K
+3.6%
3 $835K$840K
+0.6%
4 $952.5K$1.0M
+7.1%
5+ $1.1M$1.3M
+16.3%

Summary: Southwest San Gabriel Valley housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.1%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 16.3%.

Median Sold Price Compared To Nearby Cities

San Gabriel
+9.8%
Alhambra
+4.3%
Southwest San Gabriel Valley
+2.9%
Monterey Park
+1.1%

Housing Supply in Southwest San Gabriel Valley, CA

How many homes are available in Southwest San Gabriel Valley, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
257270+5.1%

Summary: The Southwest San Gabriel Valley real estate market had 270 homes for sale in February 2024, a 5.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 43
-25.0%
2 6874
+8.8%
3 111109
-1.8%
4 4650
+8.7%
5+ 2834
+21.4%

Summary: The Southwest San Gabriel Valley housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 21.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5772+26.3%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

49 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwest San Gabriel Valley, you could pay more than the asking price. 68.1% of homes here sold above asking price last month.

Summary: A total of 72 homes were sold or pending in Southwest San Gabriel Valley in February 2024, up by 26.3% month-over-month. Of the 72 sold homes, 25% were sold under asking, 7% were sold at asking, and 68% 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

Feb 2023Feb 2024CHANGE
47 Days24 Days-48.6%

Summary: Homes in Southwest San Gabriel Valley had an average of 24 days on market in Feb 2024, down by 48.6% compared to last year.

Breakdown of Home Sale Times

54 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Southwest San Gabriel Valley are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 72 homes were sold in Southwest San Gabriel Valley; 75% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

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

Report Updated 2 Days Ago

Newest Listings in Southwest San Gabriel Valley, CA

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