Is 94583, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 94583 is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, 94583 has remained a Seller's Market.

Key Takeaway

94583 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 94583, CA

How much do homes in 94583, CA cost?

Median Sold Price

$1,500,750

$762/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$113,158(+8.2%)

Key Takeaway

Homes in 94583 have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in 94583 was $1,500,750 in June 2024, up 8.2% from last year, and the median price per square foot was $762.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $423K$504K
+19.1%
2 $675K$677.5K
0.4%
3 $1.3M$1.3M
+2.3%
4 $1.6M$1.7M
+7.5%
5+ $2.0M$2.2M
+11.1%

Summary: 94583 housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 11.1%.

Median Sold Price Compared To Nearby Zip Codes

94552
+8.5%
94583
+8.2%
94526
+5.5%
94507
+4.7%
94582
+2.1%

Housing Supply in 94583, CA

How many homes are available in 94583, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
9690-6.3%

Summary: The 94583 real estate market had 90 homes for sale in June 2024, a 6.3% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 53
-40.0%
2 1313
0.0%
3 1921
+10.5%
4 4748
+2.1%
5+ 125
-58.3%

Summary: The 94583 housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 58.3%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4226-38.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 94583, you could pay more than the asking price. 60.9% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in 94583 in June 2024, down by 38.1% month-over-month. Of the 23 sold homes, 17% were sold under asking, 22% were sold at asking, and 61% were sold over asking.

Days on Market for 94583, CA

How long does it take to sell a home in 94583, CA?

Average Sale Time

Jun 2023Jun 2024CHANGE
6 Days11 Days+67.2%

Summary: Homes in 94583 had an average of 11 days on market in Jun 2024, up by 67.2% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 94583 are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 26 homes were sold in 94583; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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