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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cerritos is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Cerritos, CA

How much do homes in Cerritos, CA cost?

Median Sold Price

$995,000

$579/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$30,000(+3.1%)

Key Takeaway

Homes in Cerritos have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Cerritos was $995,000 in February 2024, up 3.1% from last year, and the median price per square foot was $579.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$353K
N/A
2 $515K$540K
+4.9%
3 $920K$910K
-1.1%
4 $1.0M$1.0M
+1.5%
5+ $1.2M$1.1M
-4.1%

Summary: Cerritos housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 4.1%.

Median Sold Price Compared To Nearby Cities

Artesia
+4.9%
Cerritos
+3.1%
Lakewood
+2.2%
La Palma
0.5%
Norwalk
0.5%

Housing Supply in Cerritos, CA

How many homes are available in Cerritos, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3529-17.1%

Summary: The Cerritos real estate market had 29 homes for sale in February 2024, a 17.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 44
0.0%
3 119
-18.2%
4 1511
-26.7%
5+ 44
0.0%

Summary: The Cerritos housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
159-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cerritos, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Cerritos in February 2024, down by 40.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.

Days on Market for Cerritos, CA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
33 Days44 Days+35.7%

Summary: Homes in Cerritos had an average of 44 days on market in Feb 2024, up by 35.7% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 9 homes were sold in Cerritos; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% 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 1 Day Ago

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