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 March 2019 dropped 13.5% / Year over year sold properties dropped 11.2% / Year over year pending (contract) properties are up 25.1%
Average price per square foot is also up year over year 5.1% / Average days on market year over year remained flat at 0%
Average active price on properties increased 3% year over year and sold prices increased 5.8%
And finally months of inventory is down in March 2019 4.4% and as per the graph below we are in a Sellers Market.
March 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in March 2019: 2.2
• Down 26.5% compared to last month
• Down 4.4% 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