Is 92701, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 92701 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 92701 was a Neutral Market.

Key Takeaway

92701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 92701, CA

How much do homes in 92701, CA cost?

Median Sold Price

$520,000

$509/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$72,500(-12.2%)

Key Takeaway

Homes in 92701 have sold for 12.2% less than they did a year ago.

Summary: The median home sold price in 92701 was $520,000 in October 2024, down 12.2% from last year, and the median price per square foot was $509.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $404K$400K
-1.0%
2 $470K$444.1K
-5.5%
3 $755K$825K
+9.3%
4 $869.9K$968K
+11.3%
5+ $1.3M$1.2M
-7.6%

Summary: 92701 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Zip Codes

92707
+11.5%
92780
+9.0%
92706
+3.1%
92705
+2.9%
92701
-12.2%

Housing Supply in 92701, CA

How many homes are available in 92701, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
64640.0%

Summary: The 92701 real estate market had 64 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1414
0.0%
2 2523
-8.0%
3 1415
+7.1%
4 78
+14.3%
5+ 44
0.0%

Summary: The 92701 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1913-31.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 92701, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in 92701 in October 2024, down by 31.6% month-over-month. Of the 13 sold homes, 38% were sold under asking, 0% were sold at asking, and 62% were sold over asking.

Days on Market for 92701, CA

How long does it take to sell a home in 92701, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days32 Days-16.7%

Summary: Homes in 92701 had an average of 32 days on market in Oct 2024, down by 16.7% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 92701 has remained consistent over time.

Summary: During October 2024, 13 homes were sold in 92701; 38% of homes were sold within 30 days, 62% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 92701, CA

Nearby Markets to 92701, CA