Is 94062, 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, 94062 has remained a Seller's Market.
Key Takeaway
94062 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 94062, CA
How much do homes in 94062, CA cost?
Median Sold Price
$2,366,666
$1,094/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 94062 have sold for 10.7% less than they did a year ago.
Summary: The median home sold price in 94062 was $2,366,666 in March 2024, down 10.7% from last year, and the median price per square foot was $1,094.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $640K | $619K | -3.3% |
| 2 Bedrooms | $1.4M | $1.4M | -2.5% |
| 3 Bedrooms | $2.2M | $2.1M | -0.9% |
| 4 Bedrooms | $3.3M | $2.7M | -15.5% |
| 5+ Bedrooms | $3.9M | $4.6M | +15.7% |
Summary: 94062 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 15.5%, and 5+ bedroom homes increased by 15.7%.
Housing Supply in 94062, CA
How many homes are available in 94062, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 68 | +19.3% |
Summary: The 94062 real estate market had 68 homes for sale in March 2024, a 19.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 17 | 22 | +29.4% |
| 5+ Bedrooms | 18 | 22 | +22.2% |
Summary: The 94062 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 94062, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 94062 in March 2024, down by 6.3% month-over-month. Of the 14 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 94062, CA
How long does it take to sell a home in 94062, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 21 Days | -10.4% |
Summary: Homes in 94062 had an average of 21 days on market in Mar 2024, down by 10.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 94062 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 94062; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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.