Bakersfield, CA housing market

Bakersfield sellers are asking nearly four hundred thousand dollars while the typical home is worth about three hundred forty-seven thousand dollars. That gap is the whole story this month, and here is what it means if you are thinking about selling. The typical Bakersfield home value sits around three hundred forty-seven thousand dollars, down just a third of a percent from a year ago, which is basically flat with a slight lean downward. But the median asking price is sitting just under four hundred thousand dollars, roughly fifty thousand dollars above that typical value. Homes are taking about forty nine days to sell, so buyers are not rushing. And nearly one in five listings, about 19 percent, has already cut its price. Here is the turn. Another 508 homes hit the market this month, on top of more than a thousand already for sale, so buyers keep getting fresh choices. That is why ambitious asking prices keep getting corrected. The so what is simple. Homes priced close to real value are selling, while homes priced on hope are sitting for about seven weeks and then cutting anyway. Before you list, get a free home value estimate at Home Value Pros dot com.