Is 94506, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 94506 has remained a Seller's Market.
Key Takeaway
94506 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 94506, CA
How much do homes in 94506, CA cost?
Median Sold Price
$2,169,875
$724/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 94506 have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in 94506 was $2,169,875 in April 2024, up 3.3% from last year, and the median price per square foot was $724.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.5M | $1.0M | -28.4% |
| 3 Bedrooms | $1.3M | $1.5M | +17.0% |
| 4 Bedrooms | $2.1M | $2.1M | +2.4% |
| 5+ Bedrooms | $2.5M | $2.6M | +3.4% |
Summary: 94506 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 decreased by 28.4%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Zip Codes
| 94526 | $1.6M | $1.7M | +3.4% |
| 94506 | $2.1M | $2.1M | +3.3% |
| 94582 | $1.6M | $1.6M | -1.3% |
| 94507 | $2.5M | $2.5M | -1.7% |
Housing Supply in 94506, CA
How many homes are available in 94506, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 64 | 88 | +37.5% |
Summary: The 94506 real estate market had 88 homes for sale in April 2024, a 37.5% 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 | 0 | 3 | +100.0% |
| 3 Bedrooms | 8 | 14 | +75.0% |
| 4 Bedrooms | 23 | 33 | +43.5% |
| 5+ Bedrooms | 33 | 38 | +15.2% |
Summary: The 94506 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 100%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 43.5%, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 34 | +78.9% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 94506, you could pay more than the asking price. 53.1% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in 94506 in April 2024, up by 78.9% month-over-month. Of the 32 sold homes, 38% were sold under asking, 9% were sold at asking, and 53% were sold over asking.
Days on Market for 94506, CA
How long does it take to sell a home in 94506, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -23.7% |
Summary: Homes in 94506 had an average of 16 days on market in Apr 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 94506 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 34 homes were sold in 94506; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% 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.