Is Otay Ranch, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Otay Ranch has remained a Seller's Market.
Housing Prices in Otay Ranch, CA
How much do homes in Otay Ranch, CA cost?
Median Sold Price
$780,000
$435/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Otay Ranch was $780,000 in April 2024, up 4% from last year, and the median price per square foot was $435.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $435K | $500K | +14.9% |
2 Bedrooms | $575K | $600K | +4.3% |
3 Bedrooms | $685K | $709K | +3.5% |
4 Bedrooms | $832.5K | $925K | +11.1% |
5+ Bedrooms | $1.0M | $1.0M | +1.6% |
Summary: Otay Ranch housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Neighborhoods
EastLake | $725K | $810K | +11.7% |
EastLake Vistas | $683K | $747.5K | +9.4% |
Greystone | $615K | $640K | +4.1% |
Otay Ranch | $749.7K | $780K | +4.0% |
EastLake Trails | $895K | $922.5K | +3.1% |
Housing Supply in Otay Ranch, CA
How many homes are available in Otay Ranch, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 104 | +1.0% |
Summary: The Otay Ranch real estate market had 104 homes for sale in April 2024, a 1.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 15 | 12 | -20.0% |
3 Bedrooms | 36 | 45 | +25.0% |
4 Bedrooms | 40 | 30 | -25.0% |
5+ Bedrooms | 12 | 17 | +41.7% |
Summary: The Otay Ranch housing inventory by bedroom type for April 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 25%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
50 | 35 | -30.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Otay Ranch in April 2024, down by 30.0% month-over-month. Of the 35 sold homes, 29% were sold under asking, 23% were sold at asking, and 49% were sold over asking.
Days on Market for Otay Ranch, CA
How long does it take to sell a home in Otay Ranch, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 15 Days | +3.6% |
Summary: Homes in Otay Ranch had an average of 15 days on market in Apr 2024, up by 3.6% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 35 homes were sold in Otay Ranch; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.