Is 94551, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 94551 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 94551 has remained a Seller's Market.

Key Takeaway

94551 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 94551, CA

How much do homes in 94551, CA cost?

Median Sold Price

$1,050,000

$690/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$50,000(+5.0%)

Key Takeaway

Homes in 94551 have sold for 5% more than they did a year ago.

Summary: The median home sold price in 94551 was $1,050,000 in December 2024, up 5% from last year, and the median price per square foot was $690.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $440K-
N/A
2 $740K$785K
+6.1%
3 $965K$1.0M
+5.7%
4 $1.2M$1.3M
+8.8%
5+ $1.4M$1.5M
+3.9%

Summary: 94551 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 3.9%.

Median Sold Price Compared To Nearby Zip Codes

94588
+14.0%
94568
+5.6%
94551
+5.0%
95391
+2.0%

Housing Supply in 94551, CA

How many homes are available in 94551, CA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
6561-6.2%

Summary: The 94551 real estate market had 61 homes for sale in December 2024, a 6.2% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 119
-18.2%
3 3127
-12.9%
4 2021
+5.0%
5+ 34
+33.3%

Summary: The 94551 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 12.9%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2032+60.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer39%39%23%

Key Takeaway

If you're buying a home in 94551, you may be able to get a good deal. 38.7% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in 94551 in December 2024, up by 60.0% month-over-month. Of the 31 sold homes, 39% were sold under asking, 23% were sold at asking, and 39% were sold over asking.

Days on Market for 94551, CA

How long does it take to sell a home in 94551, CA?

Average Sale Time

Dec 2023Dec 2024CHANGE
19 Days24 Days+25.7%

Summary: Homes in 94551 had an average of 24 days on market in Dec 2024, up by 25.7% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times78%19%

Key Takeaway

Many homes in 94551 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 32 homes were sold in 94551; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% 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 11 Days Ago

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