Is Southwest, 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, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, CA
How much do homes in Southwest, CA cost?
Median Sold Price
$729,666
$515/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Southwest was $729,666 in April 2024, up 4.2% from last year, and the median price per square foot was $515.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $460K | $465K | +1.1% |
| 2 Bedrooms | $552.5K | $587K | +6.2% |
| 3 Bedrooms | $710K | $780K | +9.9% |
| 4 Bedrooms | $778.2K | $880K | +13.1% |
| 5+ Bedrooms | $997.5K | $1.5M | +50.4% |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 50.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Hollywood By The Sea | $1.0M | $1.4M | +30.8% |
| Hueneme Bay | $510K | $535K | +4.9% |
| Southwest | $700K | $729.6K | +4.2% |
Housing Supply in Southwest, CA
How many homes are available in Southwest, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 138 | 158 | +14.5% |
Summary: The Southwest real estate market had 158 homes for sale in April 2024, a 14.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 42 | 49 | +16.7% |
| 3 Bedrooms | 49 | 54 | +10.2% |
| 4 Bedrooms | 33 | 39 | +18.2% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 36 | +12.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Southwest in April 2024, up by 12.5% month-over-month. Of the 36 sold homes, 56% were sold under asking, 25% were sold at asking, and 19% were sold over asking.
Days on Market for Southwest, CA
How long does it take to sell a home in Southwest, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 35 Days | -3.7% |
Summary: Homes in Southwest had an average of 35 days on market in Apr 2024, down by 3.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 36 homes were sold in Southwest; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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