Today in the Bakersfield Market
Please see our comparison of property values & inventory levels from just one year ago. Prices have dropped almost 50% in 1 year & each month the median price is continuing to drop.
Inventory levels of available properties have dropped by 30% this year and continuing to decline. This is in part due to the temporary moratorium of foreclosures in California & the increased investor activity.
Also note the large jump in pending sales from the previous year to the current year. This trend may continue for up to 6 months depending on new laws &/or policy set by lenders or government in the upcoming months.
|
November |
2008 |
2007 |
|
December |
2008 |
2007 |
|
Active |
4160 |
4961 |
|
Active |
3672 |
4447 |
|
Pending |
1578 |
795 |
|
Pending |
1512 |
715 |
|
Sold |
524 |
284 |
|
Sold |
602 |
351 |
|
Median Sales Price |
$145,000 |
$245,450 |
|
Median Sales Price |
$143,000 |
$236,500 |
|
|
|
|
|
January |
2009 |
2008 |
|
February |
2009 |
2008 |
|
Active |
3677 |
4445 |
|
Active |
3111 |
4585 |
|
Pending |
1508 |
716 |
|
Pending |
1746 |
965 |
|
Sold |
662 |
283 |
|
Sold |
654 |
324 |
|
Median Sales Price |
$124,900 |
$220,000 |
|
Median Sales Price |
$122,450 |
$230,500 |
The Bakersfield/Kern County market is ever changing especially REO market today. You need an agent that stays on top of the trend & doesn’t follow it!
This may assist you in buying or selling that REO property. If you do need any assistance please feel free to call or e-mail me at
joanne@joannemartin.net