Is Lemon Grove, 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, Lemon Grove has remained a Seller's Market.
Key Takeaway
Lemon Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lemon Grove, CA
How much do homes in Lemon Grove, CA cost?
Median Sold Price
$705,000
$526/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lemon Grove have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Lemon Grove was $705,000 in April 2024, up 5.5% from last year, and the median price per square foot was $526.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $405K | $545K | +34.6% |
| 2 Bedrooms | $537K | $600K | +11.7% |
| 3 Bedrooms | $677K | $720K | +6.4% |
| 4 Bedrooms | $745K | $825K | +10.7% |
| 5+ Bedrooms | $835K | $774.9K | -7.2% |
Summary: Lemon Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.6%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 7.2%.
Housing Supply in Lemon Grove, CA
How many homes are available in Lemon Grove, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 44 | -15.4% |
Summary: The Lemon Grove real estate market had 44 homes for sale in April 2024, a 15.4% decrease 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 | 11 | 6 | -45.5% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lemon Grove 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 decreased by 45.5%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 10 | -44.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lemon Grove, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Lemon Grove in April 2024, down by 44.4% month-over-month. Of the 10 sold homes, 10% were sold under asking, 20% were sold at asking, and 70% were sold over asking.
Days on Market for Lemon Grove, CA
How long does it take to sell a home in Lemon Grove, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 21 Days | +48.8% |
Summary: Homes in Lemon Grove had an average of 21 days on market in Apr 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lemon Grove are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Lemon Grove; 80% of homes were sold within 30 days, 20% 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.