Is South El Monte, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South El Monte has remained a Seller's Market.
Key Takeaway
South El Monte is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South El Monte, CA
How much do homes in South El Monte, CA cost?
Median Sold Price
$725,500
$551/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South El Monte have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in South El Monte was $725,500 in May 2024, up 2.3% from last year, and the median price per square foot was $551.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $640K | - | N/A |
| 3 Bedrooms | $690K | $725K | +5.1% |
| 4 Bedrooms | $859.4K | $747.5K | -13.0% |
| 5+ Bedrooms | $877K | $860K | -1.9% |
Summary: South El Monte housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
| Rosemead | $776K | $850K | +9.5% |
| El Monte | $665K | $725K | +9.0% |
| Southwest San Gabriel Valley | $808.5K | $866.6K | +7.2% |
| Upper San Gabriel Valley | $934.8K | $990.6K | +6.0% |
| South El Monte | $709K | $725.5K | +2.3% |
Housing Supply in South El Monte, CA
How many homes are available in South El Monte, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -41.7% |
Summary: The South El Monte real estate market had 7 homes for sale in May 2024, a 41.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 5 | -44.4% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South El Monte housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 44.4%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South El Monte, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in South El Monte in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for South El Monte, CA
How long does it take to sell a home in South El Monte, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 34 Days | +139.4% |
Summary: Homes in South El Monte had an average of 34 days on market in May 2024, up by 139.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South El Monte are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in South El Monte; 67% of homes were sold within 30 days, 33% 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.