Is 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, Palos Verdes has remained a Seller's Market.
Housing Prices in Palos Verdes, CA
How much do homes in Palos Verdes, CA cost?
Median Sold Price
$1,752,083
$807/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palos Verdes was $1,752,083 in April 2024, up 1.6% from last year, and the median price per square foot was $807.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $485K | $556K | +14.6% |
2 Bedrooms | $800K | $889K | +11.1% |
3 Bedrooms | $1.4M | $1.5M | +9.4% |
4 Bedrooms | $2.0M | $2.0M | -0.1% |
5+ Bedrooms | $2.8M | $3.0M | +3.7% |
Summary: Palos Verdes housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
Rolling Hills | $3.6M | $4.9M | +36.1% |
Palos Verdes Peninsula | $2.3M | $2.5M | +8.8% |
Palos Verdes | $1.7M | $1.7M | +1.6% |
Rancho Palos Verdes | $1.7M | $1.6M | -0.3% |
Rolling Hills Estates | $1.7M | $1.7M | -4.9% |
Housing Supply in Palos Verdes, CA
How many homes are available in Palos Verdes, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
276 | 309 | +12.0% |
Summary: The Palos Verdes real estate market had 309 homes for sale in April 2024, a 12.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 38 | 43 | +13.2% |
3 Bedrooms | 73 | 83 | +13.7% |
4 Bedrooms | 97 | 100 | +3.1% |
5+ Bedrooms | 60 | 74 | +23.3% |
Summary: The Palos Verdes housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 23.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
63 | 73 | +15.9% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 73 homes were sold or pending in Palos Verdes in April 2024, up by 15.9% month-over-month. Of the 73 sold homes, 40% were sold under asking, 14% were sold at asking, and 47% were sold over asking.
Days on Market for Palos Verdes, CA
How long does it take to sell a home in Palos Verdes, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 26 Days | -26.0% |
Summary: Homes in Palos Verdes had an average of 26 days on market in Apr 2024, down by 26% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 73 homes were sold in Palos Verdes; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.