Is Downey, 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, Downey has remained a Seller's Market.
Key Takeaway
Downey is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Downey, CA
How much do homes in Downey, CA cost?
Median Sold Price
$823,333
$539/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Downey have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Downey was $823,333 in April 2024, up 5.9% from last year, and the median price per square foot was $539.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $311K | $339.5K | +9.2% |
| 2 Bedrooms | $630K | $690K | +9.5% |
| 3 Bedrooms | $780K | $825K | +5.8% |
| 4 Bedrooms | $910K | $950K | +4.4% |
| 5+ Bedrooms | $1.3M | $1.3M | 0.0% |
Summary: Downey housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Downey | $777.3K | $823.3K | +5.9% |
| Downey-Norwalk | $720.1K | $755K | +4.8% |
Housing Supply in Downey, CA
How many homes are available in Downey, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 | 87 | -10.3% |
Summary: The Downey real estate market had 87 homes for sale in April 2024, a 10.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 16 | 14 | -12.5% |
| 3 Bedrooms | 40 | 33 | -17.5% |
| 4 Bedrooms | 26 | 27 | +3.8% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Downey housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 17.5%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 25 | -26.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downey, you could pay more than the asking price. 56% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Downey in April 2024, down by 26.5% month-over-month. Of the 25 sold homes, 36% were sold under asking, 8% were sold at asking, and 56% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 16 Days | -35.5% |
Summary: Homes in Downey had an average of 16 days on market in Apr 2024, down by 35.5% compared to last year.
Breakdown of Home Sale Times
21 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 Downey are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 25 homes were sold in Downey; 84% of homes were sold within 30 days, 16% 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.