$9,202 Closing Credit*
$774,900
1,316 SqFt
3 Beds
•2 Full Baths
Andres Torres, Listing Office: LPT Realty,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 Last Month
Since last month, 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
$545,000
$487/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$202,500(-27.1%)
Key Takeaway
Homes in Otay Mesa West have sold for 27.1% less than they did a month ago.
Summary: The median home sold price in Otay Mesa West was $545,000 in November 2024, down 27.1% from last month, and the median price per square foot was $487.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $750K | $510K | -32.0% |
| 4 Bedrooms | $742.7K | $750K | +1.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Otay Mesa West housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 32%, 4 bedroom homes increased by 1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Palm City | $710K | $667K | -6.1% |
| Otay Mesa West | $747.5K | $545K | -27.1% |
Housing Supply in Otay Mesa West, CA
How many homes are available in Otay Mesa West, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 31 | -11.4% |
Summary: The Otay Mesa West real estate market had 31 homes for sale in November 2024, a 11.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 12 | 7 | -41.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Otay Mesa West housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 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. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Otay Mesa West in November 2024, down by 30.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% 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 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 41 Days | +157.5% |
Summary: Homes in Otay Mesa West had an average of 41 days on market in Nov 2024, up by 157.5% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was 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 November 2024, 7 homes were sold in Otay Mesa West; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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.