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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gaslamp is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Gaslamp was a Seller's Market.

Key Takeaway

Gaslamp is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Gaslamp, CA

How much do homes in Gaslamp, CA cost?

Median Sold Price

$545,000

$736/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,500(+2.3%)

Key Takeaway

Homes in Gaslamp have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Gaslamp was $545,000 in October 2024, up 2.3% from last year, and the median price per square foot was $736.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $315K$510K
+61.9%
2 $680K$742.4K
+9.2%
3 --
N/A
4 -$1.0M
N/A
5+ --
N/A

Summary: Gaslamp housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.9%, 2 bedroom homes increased by 9.2%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Gaslamp, CA

How many homes are available in Gaslamp, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1514-6.7%

Summary: The Gaslamp real estate market had 14 homes for sale in October 2024, a 6.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1110
-9.1%
2 44
0.0%
3 00
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Gaslamp housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gaslamp, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Gaslamp in October 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Gaslamp, CA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
51 Days71 Days+37.9%

Summary: Homes in Gaslamp had an average of 71 days on market in Oct 2024, up by 37.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 2 homes were sold in Gaslamp; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 22 Days Ago

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