Is Bakersfield, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Bakersfield was a Seller's Market.
Housing Prices
How much do homes in Bakersfield, CA cost?
Median Sold Price
$362,500
$222/sqft
Based on all homes sold in August 2023.
Difference Since Last Month
Summary: The median home sold price in Bakersfield was $362,500 in August 2023, down 9.4% from last month, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | - | $143K | N/A |
2 Bedrooms | $210K | $257.5K | +22.6% |
3 Bedrooms | $364.9K | $335K | -8.2% |
4 Bedrooms | $434.5K | $440K | +1.3% |
5+ Bedrooms | $1.0M | $545K | -49.7% |
Summary: Bakersfield housing prices by bedroom type for August 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.6%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 49.7%.
Median Sold Price Compared To Nearby Cities
Greenfield-Panama | $377.5K | $475K | +25.8% |
Bakersfield | $400K | $362.5K | -9.4% |
Housing Supply
How many homes are available in Bakersfield, CA?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
216 | 373 | +72.7% |
Summary: The Bakersfield real estate market had 373 homes for sale in August 2023, a 72.7% increase compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 27 | 44 | +63.0% |
3 Bedrooms | 82 | 163 | +98.8% |
4 Bedrooms | 82 | 122 | +48.8% |
5+ Bedrooms | 24 | 41 | +70.8% |
Summary: The Bakersfield housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 63%, 3 bedroom homes increased by 98.8%, 4 bedroom homes increased by 48.8%, and 5+ bedroom homes increased by 70.8%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
51 | 54 | +5.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Bakersfield in August 2023, up by 5.9% month-over-month. Of the 54 sold homes, 35% were sold under asking, 26% were sold at asking, and 39% were sold over asking.
Days on Market
How long does it take to sell a home in Bakersfield, CA?
Average Sale Time
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
28 Days | 29 Days | +3.0% |
Summary: Homes in Bakersfield had an average of 29 days on market in Aug 2023, up by 3% compared to last month.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During August 2023, 54 homes were sold in Bakersfield; 74% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.