Is Porter Ranch, 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, Porter Ranch has remained a Seller's Market.
Key Takeaway
Porter Ranch is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Porter Ranch, CA
How much do homes in Porter Ranch, CA cost?
Median Sold Price
$1,178,250
$510/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Porter Ranch have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Porter Ranch was $1,178,250 in April 2024, up 5.2% from last year, and the median price per square foot was $510.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $630K | $840K | +33.3% |
| 3 Bedrooms | $935K | $957.5K | +2.4% |
| 4 Bedrooms | $1.1M | $1.2M | +3.0% |
| 5+ Bedrooms | $1.3M | $1.2M | 0% |
Summary: Porter Ranch 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 increased by 33.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Northridge | $934.7K | $1.0M | +10.7% |
| Chatsworth | $924K | $991K | +7.3% |
| Granada Hills | $915K | $966.8K | +5.7% |
| Porter Ranch | $1.1M | $1.1M | +5.2% |
| The San Fernando Valley | $874.2K | $900.2K | +3.0% |
Housing Supply in Porter Ranch, CA
How many homes are available in Porter Ranch, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 44 | 62 | +40.9% |
Summary: The Porter Ranch real estate market had 62 homes for sale in April 2024, a 40.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 25 | 36 | +44.0% |
| 5+ Bedrooms | 7 | 13 | +85.7% |
Summary: The Porter Ranch 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 remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 44%, and 5+ bedroom homes increased by 85.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 20 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Porter Ranch, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Porter Ranch in April 2024, up by 100.0% month-over-month. Of the 20 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.
Days on Market for Porter Ranch, CA
How long does it take to sell a home in Porter Ranch, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 14 Days | -55.5% |
Summary: Homes in Porter Ranch had an average of 14 days on market in Apr 2024, down by 55.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Porter Ranch are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in Porter Ranch; 90% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.