$2,400,000
0.19 Acres
Land
Erica Sook Jung, Listing Office: Dream Realty & Investments Inc
Is Mid-City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Mid-City was a Seller's Market.
Key Takeaway
Mid-City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mid-City, CA
How much do homes in Mid-City, CA cost?
Median Sold Price
$1,302,500
$779/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,500(+0.2%)
Key Takeaway
The sold price of homes in Mid-City has remained the same since last year.
Summary: The median home sold price in Mid-City was $1,302,500 in October 2024, up 0.2% from last year, and the median price per square foot was $779.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $800K | N/A |
| 2 Bedrooms | $1.0M | $1.0M | +1.4% |
| 3 Bedrooms | $1.3M | $1.3M | +0.6% |
| 4 Bedrooms | $1.3M | $1.2M | -5.3% |
| 5+ Bedrooms | $1.5M | $1.6M | +1.9% |
Summary: Mid-City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Faircrest Heights | $1.3M | $1.4M | +8.5% |
| Mid-City | $1.3M | $1.3M | 0.2% |
Housing Supply in Mid-City, CA
How many homes are available in Mid-City, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 98 | 115 | +17.3% |
Summary: The Mid-City real estate market had 115 homes for sale in October 2024, a 17.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 18 | 17 | -5.6% |
| 3 Bedrooms | 30 | 35 | +16.7% |
| 4 Bedrooms | 18 | 25 | +38.9% |
| 5+ Bedrooms | 30 | 37 | +23.3% |
Summary: The Mid-City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 38.9%, and 5+ bedroom homes increased by 23.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mid-City, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Mid-City in October 2024, down by 7.1% month-over-month. Of the 13 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for Mid-City, CA
How long does it take to sell a home in Mid-City, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 20 Days | -39.9% |
Summary: Homes in Mid-City had an average of 20 days on market in Oct 2024, down by 39.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mid-City are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Mid-City; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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.