Is Palos Verdes Peninsula, 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 Peninsula has remained a Seller's Market.
Key Takeaway
Palos Verdes Peninsula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palos Verdes Peninsula, CA
How much do homes in Palos Verdes Peninsula, CA cost?
Median Sold Price
$2,502,500
$940/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Palos Verdes Peninsula have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Palos Verdes Peninsula was $2,502,500 in April 2024, up 8.8% from last year, and the median price per square foot was $940.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $486.2K | $635.2K | +30.6% |
| 2 Bedrooms | $1.0M | $1.0M | -7.0% |
| 3 Bedrooms | $1.8M | $1.9M | +5.4% |
| 4 Bedrooms | $2.8M | $2.6M | -5.2% |
| 5+ Bedrooms | $4.1M | $4.3M | +6.8% |
Summary: Palos Verdes Peninsula housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.6%, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 6.8%.
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 Palos Verdes Peninsula, CA
How many homes are available in Palos Verdes Peninsula, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 103 | 119 | +15.5% |
Summary: The Palos Verdes Peninsula real estate market had 119 homes for sale in April 2024, a 15.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 24 | 29 | +20.8% |
| 4 Bedrooms | 39 | 36 | -7.7% |
| 5+ Bedrooms | 33 | 42 | +27.3% |
Summary: The Palos Verdes Peninsula housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 20.8%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 24 | +4.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palos Verdes Peninsula, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Palos Verdes Peninsula in April 2024, up by 4.3% month-over-month. Of the 24 sold homes, 42% were sold under asking, 13% were sold at asking, and 46% were sold over asking.
Days on Market for Palos Verdes Peninsula, CA
How long does it take to sell a home in Palos Verdes Peninsula, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 18 Days | -23.1% |
Summary: Homes in Palos Verdes Peninsula had an average of 18 days on market in Apr 2024, down by 23.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palos Verdes Peninsula are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in Palos Verdes Peninsula; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.