Here is your Bakersfield CA Real Estate Market Report – February 2018. The Bakersfield California housing market in February started to see hints of early spring with slight increases in listings and sold homes over January 2018. There were a total of 1,502 homes available for sale on the market in February 2018 which is 30 less than February 2017. February brought a total of 458 homes sold which is 1 more home sold than last year at the same time. Average days on market for February 2018 was 49. Although less homes were sold in February from January, we did see an increase in listings which shows us sellers are gearing up for the busy spring sellers market season.
February 2018 based on the above numbers is considered a neutral market because we have three to six months of inventory based on closed sales. A neutral market for this time of year is not uncommon as we see the switch that traditionally occurs from a slower holiday season into a more busier spring. Buyers looking not to have the hassle of competing with multiple offers will want to take advantage of the time during January’s and February’s to purchase a home. As we begin March 2018, based on trends we should see an up-tick in homes sold and relatively flat numbers with regards to newly listed properties.
Bakersfield CA Real Estate Market Report – February 2018
Seller’s looking to sell their homes will want to take advantage of March as statistically that’s the best time to list a home. It makes sense that March is the beginning of the busy real estate season because the weather gets warmer and people get more active which creates more traffic into homes which equates to more sales. If you’re a seller considering listing your home on the market, you’ll want to take advantage of our free market comparable analysis. We’ll provide you with a no obligation listing presentation on what it will take to sell your home and even offer a free, accurate valuation.
The average sales price in Bakersfield CA for February 2018 came in at $233,000 which is a 4% increase from January 2018’s number of $224,000. First time buyers looking to purchase a home can be excited about the FHA limits that were increased in 2018, this increase in limits gives buyers a wide selection of homes to choose from in Bakersfield and with the average price sitting well below Kern County’s FHA limit of $294,515, the sky’s the limit on finding the perfect home! Homes in this price point don’t last long as you can imagine with the large majority of these homes being sold in the average 49 days so if you’re thinking you’re ready to buy, don’t delay!
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