Is Cerritos, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Cerritos has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $353K | N/A |
2 Bedrooms | $515K | $540K | +4.9% |
3 Bedrooms | $920K | $910K | -1.1% |
4 Bedrooms | $1.0M | $1.0M | +1.5% |
5+ Bedrooms | $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%.
Housing Supply in Cerritos, CA
How many homes are available in Cerritos, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
35 | 29 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 11 | 9 | -18.2% |
4 Bedrooms | 15 | 11 | -26.7% |
5+ Bedrooms | 4 | 4 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 9 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
33 Days | 44 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
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.