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
Since last month, Bakersfield has remained a Seller's Market.
Key Takeaway
Bakersfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bakersfield, CA
How much do homes in Bakersfield, CA cost?
Median Sold Price
$372,500
$225/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Bakersfield have sold for 0.7% less than they did a month ago.
Summary: The median home sold price in Bakersfield was $372,500 in March 2024, down 0.7% from last month, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | - | N/A |
| 2 Bedrooms | $225K | $230K | +2.2% |
| 3 Bedrooms | $360K | $329.9K | -8.4% |
| 4 Bedrooms | $510K | $415K | -18.6% |
| 5+ Bedrooms | $612.4K | $730K | +19.2% |
Summary: Bakersfield housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes increased by 19.2%.
Median Sold Price Compared To Nearby Cities
| Bakersfield | $374.9K | $372.5K | -0.7% |
| Rosedale | $462.5K | $417.5K | -9.7% |
Housing Supply in Bakersfield, CA
How many homes are available in Bakersfield, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 254 | 287 | +13.0% |
Summary: The Bakersfield real estate market had 287 homes for sale in March 2024, a 13.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 29 | 34 | +17.2% |
| 3 Bedrooms | 117 | 137 | +17.1% |
| 4 Bedrooms | 78 | 86 | +10.3% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Bakersfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 62 | 0.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bakersfield, you may be able to get a good deal. 37.1% of homes here sold below asking price last month.
Summary: A total of 62 homes were sold or pending in Bakersfield in March 2024, the same as the previous month. Of the 62 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for Bakersfield, CA
How long does it take to sell a home in Bakersfield, CA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 36 Days | -18.7% |
Summary: Homes in Bakersfield had an average of 36 days on market in Mar 2024, down by 18.7% compared to last month.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bakersfield are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 62 homes were sold in Bakersfield; 56% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 10% 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. 
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