$8,728 Closing Credit*
$735,000
1,495 SqFt
3 Beds
•2 Full Baths, 1 Partial
Douglas Gutierrez, Listing Office: Joshua Daniel Massieh
Is Otay Ranch, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Otay Ranch has remained a Seller's Market.
Key Takeaway
Otay Ranch is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otay Ranch, CA
How much do homes in Otay Ranch, CA cost?
Median Sold Price
$818,166
$448/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$58,266(+7.7%)
Key Takeaway
Homes in Otay Ranch have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Otay Ranch was $818,166 in December 2024, up 7.7% from last year, and the median price per square foot was $448.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | $460K | -8.0% |
| 2 Bedrooms | $585K | $612.9K | +4.8% |
| 3 Bedrooms | $700K | $725K | +3.6% |
| 4 Bedrooms | $850K | $927.5K | +9.1% |
| 5+ Bedrooms | $1.0M | $1.1M | +10.7% |
Summary: Otay Ranch housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Otay Ranch | $759.9K | $818.1K | +7.7% |
| EastLake | $760K | $780K | +2.6% |
| EastLake Vistas | $717.5K | $720K | 0.3% |
Housing Supply in Otay Ranch, CA
How many homes are available in Otay Ranch, CA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 121 | 85 | -29.8% |
Summary: The Otay Ranch real estate market had 85 homes for sale in December 2024, a 29.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 22 | 20 | -9.1% |
| 3 Bedrooms | 33 | 26 | -21.2% |
| 4 Bedrooms | 49 | 28 | -42.9% |
| 5+ Bedrooms | 16 | 11 | -31.3% |
Summary: The Otay Ranch housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 21.2%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes decreased by 31.3%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 46 | 27 | -41.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otay Ranch, you could pay more than the asking price. 37% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Otay Ranch in December 2024, down by 41.3% month-over-month. Of the 27 sold homes, 30% were sold under asking, 33% were sold at asking, and 37% were sold over asking.
Days on Market for Otay Ranch, CA
How long does it take to sell a home in Otay Ranch, CA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 27 Days | 34 Days | +27.2% |
Summary: Homes in Otay Ranch had an average of 34 days on market in Dec 2024, up by 27.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Otay Ranch are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 27 homes were sold in Otay Ranch; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% 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.