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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sylmar is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Sylmar has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Sylmar, CA

How much do homes in Sylmar, CA cost?

Median Sold Price

$760,000

$493/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+3.4%)

Key Takeaway

Homes in Sylmar have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Sylmar was $760,000 in October 2024, up 3.4% from last year, and the median price per square foot was $493.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $475K$235K
-50.5%
2 $515K$587.5K
+14.1%
3 $732K$750K
+2.5%
4 $800K$860K
+7.5%
5+ $1.0M$950K
-5.0%

Summary: Sylmar housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50.5%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 5%.

Median Sold Price Compared To Nearby Neighborhoods

Lake View Terrace
+15.9%
The San Fernando Valley
+7.7%
Pacoima
+7.6%
Sylmar
+3.4%

Housing Supply in Sylmar, CA

How many homes are available in Sylmar, CA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
131121-7.6%

Summary: The Sylmar real estate market had 121 homes for sale in October 2024, a 7.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 2114
-33.3%
3 4748
+2.1%
4 4444
0.0%
5+ 1713
-23.5%

Summary: The Sylmar 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 33.3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 23.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2833+17.9%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sylmar, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.

Summary: A total of 33 homes were sold or pending in Sylmar in October 2024, up by 17.9% month-over-month. Of the 33 sold homes, 24% were sold under asking, 12% were sold at asking, and 64% were sold over asking.

Days on Market for Sylmar, CA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
32 Days25 Days-22.8%

Summary: Homes in Sylmar had an average of 25 days on market in Oct 2024, down by 22.8% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 33 homes were sold in Sylmar; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% 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 21 Days Ago

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