Is 91016, 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, 91016 has remained a Seller's Market.
Key Takeaway
91016 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 91016, CA
How much do homes in 91016, CA cost?
Median Sold Price
$930,000
$622/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in 91016 has remained the same since last year.
Summary: The median home sold price in 91016 was $930,000 in April 2024, the same as last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $620K | $520K | -16.1% |
| 2 Bedrooms | $679K | $734K | +8.1% |
| 3 Bedrooms | $951.5K | $985K | +3.5% |
| 4 Bedrooms | $1.1M | $1.2M | 0.2% |
| 5+ Bedrooms | $1.6M | $1.3M | -19.4% |
Summary: 91016 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 19.4%.
Housing Supply in 91016, CA
How many homes are available in 91016, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 71 | +2.9% |
Summary: The 91016 real estate market had 71 homes for sale in April 2024, a 2.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 32 | 36 | +12.5% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 91016 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 14.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 33 | +135.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 91016, you could pay more than the asking price. 57.6% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 91016 in April 2024, up by 135.7% month-over-month. Of the 33 sold homes, 27% were sold under asking, 15% were sold at asking, and 58% were sold over asking.
Days on Market for 91016, CA
How long does it take to sell a home in 91016, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 21 Days | -56.0% |
Summary: Homes in 91016 had an average of 21 days on market in Apr 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 91016 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in 91016; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% 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.