Is Borrego Springs, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Borrego Springs is a seller's market

Buyer's
Market

Difference Since March 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

$325,000

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$15,000(+4.8%)

Key Takeaway

Homes in Borrego Springs have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Borrego Springs was $325,000 in March 2024, up 4.8% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $95K$140K
+47.4%
2 $280K$275K
-1.8%
3 $400K$359K
-10.3%
4 $708K$430K
-39.3%
5+ -$325K
N/A

Summary: Borrego Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 39.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Julian
+9.4%
Palomar-Julian
+5.5%
Borrego Springs
+4.8%
Laguna-Pine Valley
+0.9%

Housing Supply in Borrego Springs, CA

How many homes are available in Borrego Springs, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4953+8.2%

Summary: The Borrego Springs real estate market had 53 homes for sale in March 2024, a 8.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 2024
+20.0%
3 2120
-4.8%
4 65
-16.7%
5+ 12
+100.0%

Summary: The Borrego Springs housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
710+42.9%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Borrego Springs, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Borrego Springs in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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

Mar 2023Mar 2024CHANGE
62 Days36 Days-41.3%

Summary: Homes in Borrego Springs had an average of 36 days on market in Mar 2024, down by 41.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 10 homes were sold in Borrego Springs; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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 24 Days Ago

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