Is King City, 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, King City has remained a Seller's Market.
Key Takeaway
King City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in King City, CA
How much do homes in King City, CA cost?
Median Sold Price
$502,500
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in King City have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in King City was $502,500 in May 2024, up 11.7% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $268K | $382.5K | +42.7% |
| 3 Bedrooms | $450K | $500K | +11.1% |
| 4 Bedrooms | $550K | $576.9K | +4.9% |
| 5+ Bedrooms | - | $653.3K | N/A |
Summary: King City 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 increased by 42.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes did not change.
Housing Supply in King City, CA
How many homes are available in King City, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The King City real estate market had 25 homes for sale in May 2024, a 13.6% increase 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The King City 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 increased by 50%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in King City, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in King City in May 2024, up by 300.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for King City, CA
How long does it take to sell a home in King City, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 78 Days | +273.8% |
Summary: Homes in King City had an average of 78 days on market in May 2024, up by 273.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in King City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in King City; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.