Is 92503, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 92503 has remained a Seller's Market.
Key Takeaway
92503 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 92503, CA
How much do homes in 92503, CA cost?
Median Sold Price
$626,714
$386/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 92503 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 92503 was $626,714 in May 2024, up 4.5% from last year, and the median price per square foot was $386.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $460.2K | $469K | +1.9% |
| 3 Bedrooms | $550K | $595K | +8.2% |
| 4 Bedrooms | $669.9K | $670.5K | 0.1% |
| 5+ Bedrooms | $901.5K | $860K | -4.6% |
Summary: 92503 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 4.6%.
Housing Supply in 92503, CA
How many homes are available in 92503, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 160 | 157 | -1.9% |
Summary: The 92503 real estate market had 157 homes for sale in May 2024, a 1.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 63 | 54 | -14.3% |
| 4 Bedrooms | 61 | 68 | +11.5% |
| 5+ Bedrooms | 29 | 27 | -6.9% |
Summary: The 92503 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 6.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 43 | +16.2% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 92503, you could pay more than the asking price. 46.5% of homes here sold above asking price last month.
Summary: A total of 43 homes were sold or pending in 92503 in May 2024, up by 16.2% month-over-month. Of the 43 sold homes, 37% were sold under asking, 16% were sold at asking, and 47% were sold over asking.
Days on Market for 92503, CA
How long does it take to sell a home in 92503, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 30 Days | +5.8% |
Summary: Homes in 92503 had an average of 30 days on market in May 2024, up by 5.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 92503 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 43 homes were sold in 92503; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.