$9,024 Closing Credit*
$759,900
1,472 SqFt
4 Beds
•2 Full Baths
Guadalupe Mejia, Listing Office: Excellence RE Real Estate
Is South Gate, 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, South Gate has remained a Seller's Market.
Key Takeaway
South Gate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Gate, CA
How much do homes in South Gate, CA cost?
Median Sold Price
$670,000
$526/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$45,000(+7.2%)
Key Takeaway
Homes in South Gate have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in South Gate was $670,000 in October 2024, up 7.2% from last year, and the median price per square foot was $526.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449K | - | N/A |
| 2 Bedrooms | $590K | $630K | +6.8% |
| 3 Bedrooms | $635K | $690K | +8.7% |
| 4 Bedrooms | $705K | $785K | +11.3% |
| 5+ Bedrooms | $866K | $1.2M | +41.5% |
Summary: South Gate 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 6.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 41.5%.
Housing Supply in South Gate, CA
How many homes are available in South Gate, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 41 | -8.9% |
Summary: The South Gate real estate market had 41 homes for sale in October 2024, a 8.9% 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 | 13 | 9 | -30.8% |
| 3 Bedrooms | 22 | 21 | -4.5% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The South Gate 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 decreased by 30.8%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Gate, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in South Gate in October 2024, up by 8.3% month-over-month. Of the 13 sold homes, 8% were sold under asking, 15% were sold at asking, and 77% were sold over asking.
Days on Market for South Gate, CA
How long does it take to sell a home in South Gate, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 13 Days | -57.8% |
Summary: Homes in South Gate had an average of 13 days on market in Oct 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Gate are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in South Gate; 92% of homes were sold within 30 days, 8% 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.