$7,719 Closing Credit*
$650,000
640 SqFt
3 Beds
•1 Full Bath
Felipe Arias, Listing Office: eXp Realty of California, Inc.
Is 92040, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 92040 has remained a Seller's Market.
Key Takeaway
92040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 92040, CA
How much do homes in 92040, CA cost?
Median Sold Price
$782,500
$498/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$33,500(+4.5%)
Key Takeaway
Homes in 92040 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 92040 was $782,500 in October 2024, up 4.5% from last year, and the median price per square foot was $498.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $340K | $359K | +5.6% |
| 2 Bedrooms | $437.5K | $440K | +0.6% |
| 3 Bedrooms | $732K | $782.5K | +6.9% |
| 4 Bedrooms | $820K | $895K | +9.1% |
| 5+ Bedrooms | $1.0M | $1.0M | -0.7% |
Summary: 92040 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in 92040, CA
How many homes are available in 92040, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 83 | -9.8% |
Summary: The 92040 real estate market had 83 homes for sale in October 2024, a 9.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 39 | 34 | -12.8% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 92040 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 19 | -42.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92040, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in 92040 in October 2024, down by 42.4% month-over-month. Of the 19 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.
Days on Market for 92040, CA
How long does it take to sell a home in 92040, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 21 Days | +35.1% |
Summary: Homes in 92040 had an average of 21 days on market in Oct 2024, up by 35.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 92040 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in 92040; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% 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.