$8,609 Closing Credit*
$725,000
1,308 SqFt
3 Beds
•2 Full Baths
Gregory Martin, Listing Office: eXp Realty of California, Inc.
Is Otay Mesa West, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Otay Mesa West has remained a Seller's Market.
Key Takeaway
Otay Mesa West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otay Mesa West, CA
How much do homes in Otay Mesa West, CA cost?
Median Sold Price
$749,500
$496/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$99,500(+15.3%)
Key Takeaway
Homes in Otay Mesa West have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Otay Mesa West was $749,500 in October 2024, up 15.3% from last year, and the median price per square foot was $496.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $450K | $449K | -0.2% |
| 3 Bedrooms | $640K | $730K | +14.1% |
| 4 Bedrooms | $715K | $757.8K | +6.0% |
| 5+ Bedrooms | $739.7K | $825K | +11.5% |
Summary: Otay Mesa West 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 decreased by 0.2%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Otay Mesa West | $650K | $749.5K | +15.3% |
| Southern San Diego | $697.4K | $755K | +8.3% |
Housing Supply in Otay Mesa West, CA
How many homes are available in Otay Mesa West, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 28 | -24.3% |
Summary: The Otay Mesa West real estate market had 28 homes for sale in October 2024, a 24.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 16 | 13 | -18.8% |
| 4 Bedrooms | 15 | 10 | -33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Otay Mesa West 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 remained the same, 3 bedroom homes decreased by 18.8%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otay Mesa West, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Otay Mesa West in October 2024, down by 16.7% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Otay Mesa West, CA
How long does it take to sell a home in Otay Mesa West, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 16 Days | -19.7% |
Summary: Homes in Otay Mesa West had an average of 16 days on market in Oct 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otay Mesa West are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Otay Mesa West; 80% of homes were sold within 30 days, 20% 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.