Is Bakersfield, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Bakersfield has remained a Seller's Market.
Housing Prices in Bakersfield, CA
How much do homes in Bakersfield, CA cost?
Median Sold Price
$352,500
$238/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Bakersfield was $352,500 in April 2024, down 5.4% from last month, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $230K | $252K | +9.6% |
3 Bedrooms | $327.4K | $317K | -3.2% |
4 Bedrooms | $415K | $514K | +23.9% |
5+ Bedrooms | $730K | $427.5K | -41.4% |
Summary: Bakersfield housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.6%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes decreased by 41.4%.
Median Sold Price Compared To Nearby Cities
Greenfield-Panama | $420K | $490K | +16.7% |
Shafter | $417.5K | $404.9K | -3.0% |
Bakersfield | $372.5K | $352.5K | -5.4% |
Housing Supply in Bakersfield, CA
How many homes are available in Bakersfield, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
279 | 287 | +2.9% |
Summary: The Bakersfield real estate market had 287 homes for sale in April 2024, a 2.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 34 | 42 | +23.5% |
3 Bedrooms | 132 | 130 | -1.5% |
4 Bedrooms | 83 | 78 | -6.0% |
5+ Bedrooms | 29 | 34 | +17.2% |
Summary: The Bakersfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 23.5%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
64 | 62 | -3.1% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Bakersfield in April 2024, down by 3.1% month-over-month. Of the 62 sold homes, 40% were sold under asking, 19% were sold at asking, and 40% were sold over asking.
Days on Market for Bakersfield, CA
How long does it take to sell a home in Bakersfield, CA?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 27 Days | -22.4% |
Summary: Homes in Bakersfield had an average of 27 days on market in Apr 2024, down by 22.4% compared to last month.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 62 homes were sold in Bakersfield; 69% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.