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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Corning is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Corning was a Seller's Market.

Key Takeaway

Corning is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Corning, CA

How much do homes in Corning, CA cost?

Median Sold Price

$315,000

$223/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$16,000(+5.4%)

Key Takeaway

Homes in Corning have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Corning was $315,000 in May 2024, up 5.4% from last year, and the median price per square foot was $223.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $184K$220K
+19.6%
2 $240K$232K
-3.3%
3 $305K$315K
+3.3%
4 $390K$355K
-9.0%
5+ $440K$745K
+69.3%

Summary: Corning housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 69.3%.

Housing Supply in Corning, CA

How many homes are available in Corning, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3837-2.6%

Summary: The Corning real estate market had 37 homes for sale in May 2024, a 2.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 01
+100.0%
2 66
0.0%
3 2224
+9.1%
4 95
-44.4%
5+ 11
0.0%

Summary: The Corning housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 44.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Corning, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Corning in May 2024, down by 50.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for Corning, CA

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

Average Sale Time

May 2023May 2024CHANGE
116 Days88 Days-24.0%

Summary: Homes in Corning had an average of 88 days on market in May 2024, down by 24% compared to last year.

Breakdown of Home Sale Times

2 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 Corning are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 5 homes were sold in Corning; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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 12 Days Ago

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