Is Downey, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Downey has remained a Seller's Market.
Housing Prices in Downey, CA
How much do homes in Downey, CA cost?
Median Sold Price
$810,000
$538/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Downey was $810,000 in March 2024, up 3.8% from last year, and the median price per square foot was $538.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $332K | +8.9% |
2 Bedrooms | $620K | $691K | +11.5% |
3 Bedrooms | $785K | $820K | +4.5% |
4 Bedrooms | $910K | $930K | +2.2% |
5+ Bedrooms | $1.2M | $1.3M | +8.0% |
Summary: Downey housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Cities
Downey | $780K | $810K | +3.8% |
Downey-Norwalk | $725K | $750K | +3.4% |
Housing Supply in Downey, CA
How many homes are available in Downey, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
91 | 99 | +8.8% |
Summary: The Downey real estate market had 99 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 16 | 15 | -6.3% |
3 Bedrooms | 35 | 40 | +14.3% |
4 Bedrooms | 26 | 27 | +3.8% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Downey housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 32 | +33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Downey in March 2024, up by 33.3% month-over-month. Of the 32 sold homes, 31% were sold under asking, 19% were sold at asking, and 50% were sold over asking.
Days on Market for Downey, CA
How long does it take to sell a home in Downey, CA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 26 Days | +4.4% |
Summary: Homes in Downey had an average of 26 days on market in Mar 2024, up by 4.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 32 homes were sold in Downey; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.