Is The Southwest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, The Southwest has remained a Seller's Market.
Key Takeaway
The Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in The Southwest, CA
How much do homes in The Southwest, CA cost?
Median Sold Price
$420,000
$238/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
The sold price of homes in The Southwest has remained the same since last month.
Summary: The median home sold price in The Southwest was $420,000 in May 2024, down 0.3% from last month, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $395K | $282.5K | -28.5% |
| 3 Bedrooms | $355.5K | $375K | +5.5% |
| 4 Bedrooms | $545K | $516K | -5.3% |
| 5+ Bedrooms | $588.7K | $549.9K | -6.6% |
Summary: The Southwest housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 28.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 6.6%.
Median Sold Price Compared To Nearby Neighborhoods
| The Southwest | $421.2K | $420K | -0.3% |
| Seven Oaks at Grand Island | $887.5K | $700K | -21.1% |
Housing Supply in The Southwest, CA
How many homes are available in The Southwest, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 87 | 0.0% |
Summary: The The Southwest real estate market had 87 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 39 | 36 | -7.7% |
| 4 Bedrooms | 30 | 32 | +6.7% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The The Southwest 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 37.5%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in The Southwest, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in The Southwest in May 2024, down by 9.1% month-over-month. Of the 20 sold homes, 45% were sold under asking, 30% were sold at asking, and 25% were sold over asking.
Days on Market for The Southwest, CA
How long does it take to sell a home in The Southwest, CA?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 35 Days | +57.9% |
Summary: Homes in The Southwest had an average of 35 days on market in May 2024, up by 57.9% compared to last month.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in The Southwest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in The Southwest; 50% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 5% 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.