$2,980,000
3,092 SqFt
5 Beds
•4 Full Baths
#424079476, Julie M Keith, Listing Office: Coldwell Banker Realty
Is Southwest, 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, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, CA
How much do homes in Southwest, CA cost?
Median Sold Price
$1,301,000
$870/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$71,000(+5.8%)
Key Takeaway
Homes in Southwest have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Southwest was $1,301,000 in October 2024, up 5.8% from last year, and the median price per square foot was $870.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $570K | $603K | +5.8% |
| 2 Bedrooms | $1.0M | $980K | -3.9% |
| 3 Bedrooms | $1.3M | $1.3M | +3.6% |
| 4 Bedrooms | $1.6M | $1.6M | +1.9% |
| 5+ Bedrooms | $2.0M | $2.1M | +6.9% |
Summary: Southwest housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 6.9%.
Housing Supply in Southwest, CA
How many homes are available in Southwest, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 53 | +8.2% |
Summary: The Southwest real estate market had 53 homes for sale in October 2024, a 8.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 20 | 21 | +5.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Southwest housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Southwest in October 2024, the same as the previous month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for Southwest, CA
How long does it take to sell a home in Southwest, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 17 Days | -55.1% |
Summary: Homes in Southwest had an average of 17 days on market in Oct 2024, down by 55.1% compared to last year.
Breakdown of Home Sale Times
9 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 Southwest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Southwest; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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