The Bakersfield CA Real Estate Market Report – September 2019 is here and we’ve got some great numbers to report.
Year over year listed properties for September 2019 dropped 23.4% / Year over year sold properties increased 4.3% / Year over year pending (contract) properties are up 19.1%. With a year over year increase in properties under contract Buyers need to buckle up when making an offer an expect to be met with high competition.
Average price per square foot is also up year over year 4.9% / Average days on market year over year dropped 11.1%. With increasing prices and lower days on market Buyers will likely encounter multiple offer situations when shopping for a home.
Average active price on properties increased 9.2% year over year and sold prices increased 4.2%. Prices are going up and appreciation in the Bakersfield Real Estate market is still very much present.
September 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in September 2019: 1.9
• Up 26.5% compared to last month
• Down 27.4% 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