Is Northwest, 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, Northwest has remained a Seller's Market.
Key Takeaway
Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest, CA
How much do homes in Northwest, CA cost?
Median Sold Price
$785,000
$416/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Northwest was $785,000 in May 2024, down 1.8% from last year, and the median price per square foot was $416.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $385K | $287K | -25.5% |
| 2 Bedrooms | $477.5K | $528.5K | +10.7% |
| 3 Bedrooms | $755K | $757K | 0.3% |
| 4 Bedrooms | $847.5K | $835K | -1.5% |
| 5+ Bedrooms | $1.0M | $1.0M | -4.4% |
Summary: Northwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 4.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Sierra Linda | $700K | $695K | -0.7% |
| Windsor North River Ridge | $930K | $920K | -1.1% |
| Northwest | $799.5K | $785K | -1.8% |
Housing Supply in Northwest, CA
How many homes are available in Northwest, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 52 | -3.7% |
Summary: The Northwest real estate market had 52 homes for sale in May 2024, a 3.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 26 | 22 | -15.4% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Northwest 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 12.5%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Northwest in May 2024, down by 15.4% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Northwest, CA
How long does it take to sell a home in Northwest, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 44 Days | +53.3% |
Summary: Homes in Northwest had an average of 44 days on market in May 2024, up by 53.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Northwest; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% 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.