$9,559 Closing Credit*
$805,000
1,542 SqFt
3 Beds
•2 Full Baths
#424084454, Zhane A Dikes, Listing Office: The Agency
Is Southwest, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$1,320,000
$877/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$70,000(+5.6%)
Key Takeaway
Homes in Southwest have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Southwest was $1,320,000 in November 2024, up 5.6% from last year, and the median price per square foot was $877.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $572.5K | $625K | +9.2% |
| 2 Bedrooms | $1.0M | $977.5K | -6.9% |
| 3 Bedrooms | $1.3M | $1.3M | +4.0% |
| 4 Bedrooms | $1.6M | $1.6M | +1.9% |
| 5+ Bedrooms | $2.0M | $2.0M | -0.5% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Southwest | $1.2M | $1.3M | +5.6% |
| Merced Heights | $1.2M | $1.1M | -5.1% |
Housing Supply in Southwest, CA
How many homes are available in Southwest, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 47 | -4.1% |
Summary: The Southwest real estate market had 47 homes for sale in November 2024, a 4.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 19 | 15 | -21.1% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 21.1%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 18 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Southwest in November 2024, up by 50.0% month-over-month. Of the 16 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 30 Days | 16 Days | -43.7% |
Summary: Homes in Southwest had an average of 16 days on market in Nov 2024, down by 43.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 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 November 2024, 18 homes were sold in Southwest; 72% 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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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.