Is Otay Mesa West, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Otay Mesa West has remained a Seller's Market.
Housing Prices in Otay Mesa West, CA
How much do homes in Otay Mesa West, CA cost?
Median Sold Price
$715,000
$477/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Otay Mesa West was $715,000 in April 2024, up 7.2% from last year, and the median price per square foot was $477.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $439K | $425K | -3.2% |
3 Bedrooms | $655K | $667.5K | +1.9% |
4 Bedrooms | $690K | $765K | +10.9% |
5+ Bedrooms | $742K | $795K | +7.1% |
Summary: Otay Mesa West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Neighborhoods
Southern San Diego | $684.7K | $740K | +8.1% |
Otay Mesa West | $667K | $715K | +7.2% |
Housing Supply in Otay Mesa West, CA
How many homes are available in Otay Mesa West, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 34 | 0.0% |
Summary: The Otay Mesa West real estate market had 34 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 13 | 13 | 0.0% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Otay Mesa West housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 9 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Otay Mesa West in April 2024, down by 10.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for Otay Mesa West, CA
How long does it take to sell a home in Otay Mesa West, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 11 Days | -14.1% |
Summary: Homes in Otay Mesa West had an average of 11 days on market in Apr 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Otay Mesa West; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.