Is 92316, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 92316 was a Seller's Market.
Key Takeaway
92316 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 92316, CA
How much do homes in 92316, CA cost?
Median Sold Price
$530,000
$408/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 92316 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 92316 was $530,000 in April 2024, up 9.3% from last year, and the median price per square foot was $408.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $412.5K | N/A |
| 2 Bedrooms | $400K | $510K | +27.5% |
| 3 Bedrooms | $475K | $525K | +10.5% |
| 4 Bedrooms | $520K | $560K | +7.7% |
| 5+ Bedrooms | $600K | $547.5K | -8.8% |
Summary: 92316 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 92316, CA
How many homes are available in 92316, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 41 | +2.5% |
Summary: The 92316 real estate market had 41 homes for sale in April 2024, a 2.5% 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 92316 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 remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92316, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 92316 in April 2024, down by 37.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 92316, CA
How long does it take to sell a home in 92316, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 7 Days | -72.5% |
Summary: Homes in 92316 had an average of 7 days on market in Apr 2024, down by 72.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 92316 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in 92316; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.