$10,000 Closing Credit*
$920,000
Gina Acosta, Listing Office: Gina M. Acosta, Broker
Is South Gate, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, South Gate has remained a Seller's Market.
Key Takeaway
South Gate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Gate, CA
How much do homes in South Gate, CA cost?
Median Sold Price
$660,000
$526/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$40,000(+6.5%)
Key Takeaway
Homes in South Gate have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in South Gate was $660,000 in September 2024, up 6.5% from last year, and the median price per square foot was $526.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449K | - | N/A |
| 2 Bedrooms | $590K | $630K | +6.8% |
| 3 Bedrooms | $635K | $680K | +7.1% |
| 4 Bedrooms | $680.5K | $732K | +7.6% |
| 5+ Bedrooms | $866K | $1.2M | +48.7% |
Summary: South Gate housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 48.7%.
Housing Supply in South Gate, CA
How many homes are available in South Gate, CA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 47 | 44 | -6.4% |
Summary: The South Gate real estate market had 44 homes for sale in September 2024, a 6.4% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 25 | 22 | -12.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The South Gate housing inventory by bedroom type for September 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 12%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Gate, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in South Gate in September 2024, down by 7.7% month-over-month. Of the 12 sold homes, 17% were sold under asking, 8% were sold at asking, and 75% were sold over asking.
Days on Market for South Gate, CA
How long does it take to sell a home in South Gate, CA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 28 Days | 30 Days | +5.2% |
Summary: Homes in South Gate had an average of 30 days on market in Sep 2024, up by 5.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Gate are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 12 homes were sold in South Gate; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.