Justin Tye
Newberry Springs, CA
Single-Family Homes
Active Realty I REAL
Newberry Springs, CA
Thu Sep 19 2024
This week the median list price for Newberry Springs, CA is $249,999 with the market action index hovering around 29. This is an increase over last month's market action index of 27. Inventory has decreased to 22.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $249,999 | |
| Median Price of New Listings | $269,000 | |
| Per Square Foot | $170 | |
| Average Days on Market | 286 | |
| Median Days on Market | 168 | |
| Price Decreased | 36% | |
| Price Increased | 9% | |
| Relisted | 18% | |
| Inventory | 22 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $560,000 | 1,450 | N/A | 4 | 2 | 46 | 0 | 1 | 133 |
| $319,999 | 1,772 | 5 - 10 acres | 3 | 2 | 42 | 1 | 1 | 70 |
| $228,000 | 1,482 | 5 - 10 acres | 3 | 2 | 42 | 0 | 0 | 224 |
| $176,500 | 1,233 | 10 - 20 acres | 2 | 1.3 | 60 | 1 | 1 | 192 |