Is Downtown, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Downtown was a Seller's Market.
Key Takeaway
Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown, CA
How much do homes in Downtown, CA cost?
Median Sold Price
$625,000
$652/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Downtown has remained the same since last year.
Summary: The median home sold price in Downtown was $625,000 in May 2024, the same as last year, and the median price per square foot was $652.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $540K | $540K | 0.0% |
| 2 Bedrooms | $815K | $832K | +2.1% |
| 3 Bedrooms | $1.1M | $1.8M | +64.9% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 64.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Historic Core | $510K | $525K | +2.9% |
| Downtown | $625K | $625K | 0.0% |
Housing Supply in Downtown, CA
How many homes are available in Downtown, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 236 | 266 | +12.7% |
Summary: The Downtown real estate market had 266 homes for sale in May 2024, a 12.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 150 | 166 | +10.7% |
| 2 Bedrooms | 77 | 89 | +15.6% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Downtown in May 2024, up by 15.8% month-over-month. Of the 22 sold homes, 64% were sold under asking, 23% were sold at asking, and 14% were sold over asking.
Days on Market for Downtown, CA
How long does it take to sell a home in Downtown, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 107 Days | 78 Days | -26.7% |
Summary: Homes in Downtown had an average of 78 days on market in May 2024, down by 26.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown has remained consistent over time.
Summary: During May 2024, 22 homes were sold in Downtown; 27% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 32% 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.