Is Downey, 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, Downey has remained a Seller's Market.
Housing Prices in Downey, CA
How much do homes in Downey, CA cost?
Median Sold Price
$830,000
$542/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Downey was $830,000 in May 2024, up 7% from last year, and the median price per square foot was $542.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $312K | $382.5K | +22.6% |
2 Bedrooms | $645K | $692K | +7.3% |
3 Bedrooms | $780K | $830K | +6.4% |
4 Bedrooms | $905K | $950K | +5.0% |
5+ Bedrooms | $1.3M | $1.3M | -1.9% |
Summary: Downey housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.6%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
Downey | $775.4K | $830K | +7.0% |
Downey-Norwalk | $715K | $757.3K | +5.9% |
Paramount | $535K | $560K | +4.7% |
Housing Supply in Downey, CA
How many homes are available in Downey, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
98 | 104 | +6.1% |
Summary: The Downey real estate market had 104 homes for sale in May 2024, a 6.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 15 | 12 | -20.0% |
3 Bedrooms | 37 | 43 | +16.2% |
4 Bedrooms | 30 | 32 | +6.7% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Downey 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 decreased by 20%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 31 | +24.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Downey in May 2024, up by 24.0% month-over-month. Of the 31 sold homes, 29% were sold under asking, 23% were sold at asking, and 48% were sold over asking.
Days on Market for Downey, CA
How long does it take to sell a home in Downey, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 34 Days | +38.5% |
Summary: Homes in Downey had an average of 34 days on market in May 2024, up by 38.5% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Downey; 74% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.