$265,000
5.00 Acres
Land
Rania Azzazi, Listing Office: Coldwell Banker Realty
Is 92040, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 92040 was a Seller's Market.
Key Takeaway
92040 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 92040, CA
How much do homes in 92040, CA cost?
Median Sold Price
$794,937
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$44,937(+6.0%)
Key Takeaway
Homes in 92040 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 92040 was $794,937 in November 2024, up 6% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $342K | $359K | +5.0% |
| 2 Bedrooms | $437.5K | $450K | +2.9% |
| 3 Bedrooms | $737K | $795K | +7.9% |
| 4 Bedrooms | $830K | $886.5K | +6.8% |
| 5+ Bedrooms | $1.0M | $1.0M | 0.5% |
Summary: 92040 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 0.5%.
Housing Supply in 92040, CA
How many homes are available in 92040, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 77 | +1.3% |
Summary: The 92040 real estate market had 77 homes for sale in November 2024, a 1.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 30 | 39 | +30.0% |
| 4 Bedrooms | 21 | 17 | -19.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 92040 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 30%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 8 | -65.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92040, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 92040 in November 2024, down by 65.2% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 44 Days | +220.0% |
Summary: Homes in 92040 had an average of 44 days on market in Nov 2024, up by 220% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 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 November 2024, 8 homes were sold in 92040; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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.