Is 92602, 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, 92602 was a Neutral Market.
Key Takeaway
92602 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 92602, CA
How much do homes in 92602, CA cost?
Median Sold Price
$2,185,000
$858/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 92602 have sold for 25.6% more than they did a year ago.
Summary: The median home sold price in 92602 was $2,185,000 in April 2024, up 25.6% from last year, and the median price per square foot was $858.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $615K | $599.9K | -2.4% |
| 2 Bedrooms | $865K | $1.0M | +15.6% |
| 3 Bedrooms | $1.4M | $1.3M | -1.8% |
| 4 Bedrooms | $2.0M | $2.4M | +19.5% |
| 5+ Bedrooms | $3.2M | $4.0M | +23.4% |
Summary: 92602 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.4%, 2 bedroom homes increased by 15.6%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 19.5%, and 5+ bedroom homes increased by 23.4%.
Housing Supply in 92602, CA
How many homes are available in 92602, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 73 | 66 | -9.6% |
Summary: The 92602 real estate market had 66 homes for sale in April 2024, a 9.6% decrease 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 38 | 37 | -2.6% |
| 5+ Bedrooms | 14 | 8 | -42.9% |
Summary: The 92602 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 increased by 20%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92602, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 92602 in April 2024, down by 17.2% month-over-month. Of the 24 sold homes, 29% were sold under asking, 13% were sold at asking, and 58% were sold over asking.
Days on Market for 92602, CA
How long does it take to sell a home in 92602, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 26 Days | +117.7% |
Summary: Homes in 92602 had an average of 26 days on market in Apr 2024, up by 117.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 92602 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in 92602; 79% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 13% 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.