$7,933 Closing Credit*
$668,000
1,110 SqFt
2 Beds
•2 Full Baths
Aaron Ralstin, Listing Office: Burrows Real Estate Company
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
$734,000
$534/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,000(+3.4%)
Key Takeaway
Homes in Southwest have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Southwest was $734,000 in November 2024, up 3.4% from last year, and the median price per square foot was $534.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $460K | $465K | +1.1% |
| 2 Bedrooms | $555.5K | $583.5K | +5.0% |
| 3 Bedrooms | $749.9K | $768K | +2.4% |
| 4 Bedrooms | $851.6K | $867.5K | +1.9% |
| 5+ Bedrooms | $1.8M | $1.6M | -11.7% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 11.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Silver Strand | $1.1M | $1.2M | +6.6% |
| Hueneme Bay | $520K | $547.5K | +5.3% |
| Southwest | $710K | $734K | +3.4% |
| Hollywood By The Sea | $1.2M | $850K | -32.0% |
Housing Supply in Southwest, CA
How many homes are available in Southwest, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 160 | 148 | -7.5% |
Summary: The Southwest real estate market had 148 homes for sale in November 2024, a 7.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 10 | -9.1% |
| 2 Bedrooms | 58 | 53 | -8.6% |
| 3 Bedrooms | 56 | 50 | -10.7% |
| 4 Bedrooms | 32 | 33 | +3.1% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 33 | -17.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 57.6% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Southwest in November 2024, down by 17.5% month-over-month. Of the 33 sold homes, 58% were sold under asking, 15% were sold at asking, and 27% 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 |
|---|---|---|
| 44 Days | 40 Days | -9.2% |
Summary: Homes in Southwest had an average of 40 days on market in Nov 2024, down by 9.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 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, 33 homes were sold in Southwest; 55% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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