As the market in Bakersfield CA heats up not only temperature wise but also in real estate we’ll have less time to devote to the market report. So, going forward I’m just going to give you some basic information on the current market and if you have any specific questions please feel free to submit a comment below and we’ll respond asap.
Year over year listed properties for April 2019 dropped 12.2% / Year over year sold properties increased 8.6% / Year over year pending (contract) properties are up 15.7%. Based on this information it’s clear that the Bakersfield Real Estate Market is H-O-T!
Average price per square foot is also up year over year 7.4% / Average days on market year over year dropped 14.6%. With increasing prices and days on market dropping Buyers will likely encounter multiple offer situations when shopping for a home.
Average active price on properties increased 6% year over year and sold prices increased 5.3%. Prices are going up and appreciation is present.
And finally months of inventory is down in April 2019 19.9% and based on the info below we are in a Sellers Market.
April 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in April 2019: 2
- Down 4.8% compared to last month
- Down 19.9% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales