Is 92116, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 92116 has remained a Seller's Market.
Housing Prices in 92116, CA
How much do homes in 92116, CA cost?
Median Sold Price
$940,000
$813/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 92116 was $940,000 in March 2024, up 8.2% from last year, and the median price per square foot was $813.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $437K | $445K | +1.8% |
2 Bedrooms | $736.2K | $737.5K | 0.2% |
3 Bedrooms | $1.2M | $1.3M | +6.2% |
4 Bedrooms | $1.4M | $1.5M | +10.1% |
5+ Bedrooms | $2.3M | $1.9M | -15.9% |
Summary: 92116 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 15.9%.
Housing Supply in 92116, CA
How many homes are available in 92116, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 82 | +20.6% |
Summary: The 92116 real estate market had 82 homes for sale in March 2024, a 20.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 13 | +18.2% |
2 Bedrooms | 26 | 34 | +30.8% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 92116 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 26.7%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 32 | +128.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in 92116 in March 2024, up by 128.6% month-over-month. Of the 32 sold homes, 38% were sold under asking, 16% were sold at asking, and 47% were sold over asking.
Days on Market for 92116, CA
How long does it take to sell a home in 92116, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
15 Days | 15 Days | +1.3% |
Summary: Homes in 92116 had an average of 15 days on market in Mar 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 32 homes were sold in 92116; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.