Is Borrego Springs, 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, Borrego Springs has remained a Seller's Market.
Key Takeaway
Borrego Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Borrego Springs, CA
How much do homes in Borrego Springs, CA cost?
Median Sold Price
$340,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Borrego Springs have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Borrego Springs was $340,000 in April 2024, up 7.3% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93.7K | $155K | +65.3% |
| 2 Bedrooms | $283.5K | $280.5K | -1.1% |
| 3 Bedrooms | $457.5K | $355K | -22.4% |
| 4 Bedrooms | $923K | $430K | -53.4% |
| 5+ Bedrooms | - | $325K | N/A |
Summary: Borrego Springs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 65.3%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 22.4%, 4 bedroom homes decreased by 53.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Julian | $549K | $605K | +10.2% |
| Palomar-Julian | $549K | $590K | +7.5% |
| Borrego Springs | $317K | $340K | +7.3% |
| Laguna-Pine Valley | $622.5K | $650K | +4.4% |
Housing Supply in Borrego Springs, CA
How many homes are available in Borrego Springs, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 59 | +7.3% |
Summary: The Borrego Springs real estate market had 59 homes for sale in April 2024, a 7.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 26 | 26 | 0.0% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Borrego Springs 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 remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Borrego Springs, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Borrego Springs in April 2024, up by 18.2% month-over-month. Of the 13 sold homes, 77% were sold under asking, 8% were sold at asking, and 15% were sold over asking.
Days on Market for Borrego Springs, CA
How long does it take to sell a home in Borrego Springs, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 26 Days | -32.1% |
Summary: Homes in Borrego Springs had an average of 26 days on market in Apr 2024, down by 32.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Borrego Springs are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Borrego Springs; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% 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.