Is Borrego Springs, 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, Borrego Springs has remained a Seller's Market.
Housing Prices in Borrego Springs, CA
How much do homes in Borrego Springs, CA cost?
Median Sold Price
$325,000
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Borrego Springs was $325,000 in May 2024, up 1.6% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $93.7K | $152K | +62.1% |
2 Bedrooms | $286K | $282K | -1.4% |
3 Bedrooms | $465K | $345K | -25.8% |
4 Bedrooms | $923K | $430K | -53.4% |
5+ Bedrooms | - | $325K | N/A |
Summary: Borrego Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 62.1%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 25.8%, 4 bedroom homes decreased by 53.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Julian | $539.5K | $625K | +15.8% |
Palomar-Julian | $549.5K | $594K | +8.1% |
Laguna-Pine Valley | $618.7K | $636K | +2.8% |
Borrego Springs | $320K | $325K | +1.6% |
Housing Supply in Borrego Springs, CA
How many homes are available in Borrego Springs, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
61 | 51 | -16.4% |
Summary: The Borrego Springs real estate market had 51 homes for sale in May 2024, a 16.4% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 31 | 26 | -16.1% |
3 Bedrooms | 24 | 16 | -33.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Borrego Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 11 | -15.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Borrego Springs in May 2024, down by 15.4% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.
Days on Market for Borrego Springs, CA
How long does it take to sell a home in Borrego Springs, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 26 Days | -43.9% |
Summary: Homes in Borrego Springs had an average of 26 days on market in May 2024, down by 43.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Borrego Springs; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.