Is Summerland, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summerland is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Summerland was a Buyer's Market.

Key Takeaway

Summerland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Summerland, CA

How much do homes in Summerland, CA cost?

Median Sold Price

$4,290,995

$1,335/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$215,995(+5.3%)

Key Takeaway

Homes in Summerland have sold for 5.3% more than they did a month ago.

Summary: The median home sold price in Summerland was $4,290,995 in October 2024, up 5.3% from last month, and the median price per square foot was $1,335.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 -$4.2M
N/A
3 $4.0M$3.0M
-26.4%
4 -$5.5M
N/A
5+ --
N/A

Summary: Summerland housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 26.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Summerland, CA

How many homes are available in Summerland, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1816-11.1%

Summary: The Summerland real estate market had 16 homes for sale in October 2024, a 11.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 44
0.0%
3 108
-20.0%
4 33
0.0%
5+ 11
0.0%

Summary: The Summerland 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summerland, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Summerland in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Summerland, CA

How long does it take to sell a home in Summerland, CA?

Average Sale Time

Sep 2024Oct 2024CHANGE
43 Days16 Days-62.8%

Summary: Homes in Summerland had an average of 16 days on market in Oct 2024, down by 62.8% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Summerland are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Summerland; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

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