Is 92705, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 92705 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 92705 has remained a Seller's Market.

Key Takeaway

92705 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 92705, CA

How much do homes in 92705, CA cost?

Median Sold Price

$1,540,000

$647/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$43,000(+2.9%)

Key Takeaway

Homes in 92705 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 92705 was $1,540,000 in October 2024, up 2.9% from last year, and the median price per square foot was $647.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $325K$280K
-13.8%
2 $533K$573.7K
+7.6%
3 $1.2M$1.3M
+11.8%
4 $1.5M$1.5M
+2.5%
5+ $2.0M$2.2M
+8.9%

Summary: 92705 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.8%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 8.9%.

Median Sold Price Compared To Nearby Zip Codes

92782
+13.8%
92780
+9.0%
92705
+2.9%
92701
-12.2%

Housing Supply in 92705, CA

How many homes are available in 92705, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9794-3.1%

Summary: The 92705 real estate market had 94 homes for sale in October 2024, a 3.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 913
+44.4%
3 2225
+13.6%
4 3226
-18.8%
5+ 3227
-15.6%

Summary: The 92705 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes decreased by 15.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
20200.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 92705, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in 92705 in October 2024, the same as the previous month. Of the 20 sold homes, 35% were sold under asking, 15% were sold at asking, and 50% were sold over asking.

Days on Market for 92705, CA

How long does it take to sell a home in 92705, CA?

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days30 Days-5.2%

Summary: Homes in 92705 had an average of 30 days on market in Oct 2024, down by 5.2% compared to last year.

Breakdown of Home Sale Times

12 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

Many homes in 92705 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 20 homes were sold in 92705; 60% of homes were sold within 30 days, 40% 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

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