Is Palmdale, 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, Palmdale has remained a Seller's Market.
Key Takeaway
Palmdale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmdale, CA
How much do homes in Palmdale, CA cost?
Median Sold Price
$500,000
$271/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Palmdale has remained the same since last year.
Summary: The median home sold price in Palmdale was $500,000 in April 2024, the same as last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $211K | -1.9% |
| 2 Bedrooms | $350K | $370K | +5.7% |
| 3 Bedrooms | $453.7K | $446.1K | -1.7% |
| 4 Bedrooms | $520.6K | $535.6K | +2.9% |
| 5+ Bedrooms | $620K | $630K | +1.6% |
Summary: Palmdale housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 5.7%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
| Lancaster | $445K | $459.9K | +3.4% |
| South Antelope Valley | $526.3K | $530.6K | +0.8% |
| Palmdale | $500K | $500K | 0.0% |
| Acton | $850K | $807.5K | -5.0% |
Housing Supply in Palmdale, CA
How many homes are available in Palmdale, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 357 | 379 | +6.2% |
Summary: The Palmdale real estate market had 379 homes for sale in April 2024, a 6.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 19 | 18 | -5.3% |
| 3 Bedrooms | 128 | 142 | +10.9% |
| 4 Bedrooms | 147 | 151 | +2.7% |
| 5+ Bedrooms | 61 | 66 | +8.2% |
Summary: The Palmdale 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 decreased by 5.3%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 79 | -1.3% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmdale, you could pay more than the asking price. 44.3% of homes here sold above asking price last month.
Summary: A total of 79 homes were sold or pending in Palmdale in April 2024, down by 1.3% month-over-month. Of the 79 sold homes, 32% were sold under asking, 24% were sold at asking, and 44% were sold over asking.
Days on Market for Palmdale, CA
How long does it take to sell a home in Palmdale, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 42 Days | +7.5% |
Summary: Homes in Palmdale had an average of 42 days on market in Apr 2024, up by 7.5% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmdale are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 79 homes were sold in Palmdale; 62% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 20% 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.