Is 92705, 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, 92705 has remained a Seller's Market.
Key Takeaway
92705 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 92705, CA
How much do homes in 92705, CA cost?
Median Sold Price
$1,500,000
$604/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 92705 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 92705 was $1,500,000 in March 2024, up 6% from last year, and the median price per square foot was $604.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $267.5K | -28.7% |
| 2 Bedrooms | $562.2K | $535K | -4.8% |
| 3 Bedrooms | $1.1M | $1.2M | +6.1% |
| 4 Bedrooms | $1.5M | $1.5M | +2.9% |
| 5+ Bedrooms | $2.1M | $2.0M | -1.5% |
Summary: 92705 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.7%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 1.5%.
Housing Supply in 92705, CA
How many homes are available in 92705, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 71 | +4.4% |
Summary: The 92705 real estate market had 71 homes for sale in March 2024, a 4.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 22 | 23 | +4.5% |
Summary: The 92705 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 24 | +50.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92705, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 92705 in March 2024, up by 50.0% month-over-month. Of the 24 sold homes, 54% were sold under asking, 13% were sold at asking, and 33% were sold over asking.
Days on Market for 92705, CA
How long does it take to sell a home in 92705, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 70 Days | +92.4% |
Summary: Homes in 92705 had an average of 70 days on market in Mar 2024, up by 92.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 92705 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in 92705; 58% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 25% 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.