Bakersfield, CA
Housing Market
Bakersfield's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Bakersfield's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellBakersfield Housing Market Overview
The housing market in Bakersfield, CA offers diverse options, from traditional homes to newer planned communities, with options across budgets and lifestyles. The Bakersfield real estate market has shown strong growth in recent months. The median home price has increased by 6.3% YoY to $425,000. Properties typically remain on the market for 35 days, a modest 2-day increase from last year, indicating continued steady demand. Bakersfield offers affordable housing for California buyers, with access to outdoor recreation, jobs, and services, compared to pricier coastal and central areas.
Home sales in Bakersfield have experienced a notable decline, falling 14.7% from 278 to 237. Nevertheless, Bakersfield's real estate market remains an important component of Kern County's economy. Despite the decline in sales, Bakersfield still attracts buyers seeking affordability and space compared to other California regions, thanks to its diverse economy and essential services. However, the reduced sales make it a market where sellers currently hold more leverage due to price appreciation.
Home sales in Bakersfield have experienced a notable decline, falling 14.7% from 278 to 237. Nevertheless, Bakersfield's real estate market remains an important component of Kern County's economy. Despite the decline in sales, Bakersfield still attracts buyers seeking affordability and space compared to other California regions, thanks to its diverse economy and essential services. However, the reduced sales make it a market where sellers currently hold more leverage due to price appreciation.
Median Sale Price
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Bakersfield Housing Supply
Bakersfield is a good place for real estate investors because prices are rising and homes are still affordable. The number of Bakersfield houses for sale has increased substantially to 699---a significant 29.7% YoY rise. Newly listed homes have also increased by 13.4% YoY, with 389 new properties entering the market. The Bakersfield housing supply currently stands at 2.9 months citywide, up 1 month from the previous year. While this still indicates a seller's market (below the balanced threshold of 5-6 months), the expanding inventory suggests improving conditions for buyers.
Bakersfield's housing supply experiences seasonal variations, with spring and summer typically seeing increased listing activity as families aim to move during school breaks. The city's appeal stems from its combination of affordability and quality of life, with the cost of living significantly lower than most California cities. Popular neighborhoods in Bakersfield like Seven Oaks, Haggin Oaks, Old Stockdale, and the Northwest offer diverse inventory options, from newer luxury homes to established properties with larger lots. Highway improvements, university growth, and its central location make Bakersfield attractive to California buyers.
Bakersfield's housing supply experiences seasonal variations, with spring and summer typically seeing increased listing activity as families aim to move during school breaks. The city's appeal stems from its combination of affordability and quality of life, with the cost of living significantly lower than most California cities. Popular neighborhoods in Bakersfield like Seven Oaks, Haggin Oaks, Old Stockdale, and the Northwest offer diverse inventory options, from newer luxury homes to established properties with larger lots. Highway improvements, university growth, and its central location make Bakersfield attractive to California buyers.
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Bakersfield Housing Demand
Bakersfield's real estate market shows persistent competitive dynamics despite expanding inventory. 34% of Bakersfield homes are selling above their list price, an increase of 2.7 percentage points from last year. Interestingly, price reductions have also increased to 37.3% of all Bakersfield housing listings, up from 23.9% last year. The sale-to-list price ratio has increased slightly to 99.6%, up 0.12 percentage points year over year. This means sellers are receiving close to their asking prices, a slight improvement from the previous year.
While more houses in Bakersfield are selling above list price, the significant increase in price reductions indicates that correct pricing is crucial. For buyers, the rise in homes for sale creates more options, though the increased percentage of above-list-price sales suggests that desirable properties still generate competitive interest. The relatively stable median days on the market (35 days) indicate a market that maintains strong activity for well-positioned properties.
While more houses in Bakersfield are selling above list price, the significant increase in price reductions indicates that correct pricing is crucial. For buyers, the rise in homes for sale creates more options, though the increased percentage of above-list-price sales suggests that desirable properties still generate competitive interest. The relatively stable median days on the market (35 days) indicate a market that maintains strong activity for well-positioned properties.
Homes Sold Above List Price
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Strong
Buyer
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Bakersfield Market: When to Buy or Sell?
Bakersfield offers affordable, spacious homes with good appreciation, attracting buyers from pricier coastal areas in the California real estate market. The current 2.9 months of supply remains below the balanced conditions of the US real estate market (5 to 6 months), indicating sellers still maintain an advantage despite expanding inventory.
With interest rates affecting affordability nationwide, buyers benefit from Bakersfield's relatively lower price points, allowing for more purchasing power and larger properties than possible in other California markets.
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Frequently Asked Questions
How have Bakersfield home prices changed over the past year?
Over the past year, the average home price in Bakersfield has seen substantial growth. The median home value has reached $425,000, reflecting a 6.3% increase from the previous year. This is faster growth than many other California areas. Consider using our free home value estimator to assess your property's current market value.
What are Bakersfield real estate market predictions for 2025?
The Bakersfield housing market is expected to continue appreciating throughout 2025, at a more moderate pace than the current 6.3% YoY increase. Even with the rising supply of 2.9 months, prices should continue to increase as the market remains favorable for sellers. Bakersfield's affordability attracts California buyers seeking value.
What's the median home price in Bakersfield CA?
Bakersfield's median home price varies based on neighborhood, property type, and size. While the median home price stands at $425,000, condos in established neighborhoods can cost around $220,000, while luxury properties in premium areas like Seven Oaks can exceed the median price by miles. If you're looking for options across different price points, check houses for sale in Bakersfield, California.
Is this a good time to buy a home in Bakersfield, CA?
Current market conditions in Bakersfield present a mixed picture for potential buyers. Despite a significant increase in Bakersfield homes for sale (up 29.7% YoY) and a growing 2.9-month supply, strong price appreciation (6.3% YoY) and 34% of sales above list price show ongoing competition. You can check current housing market trends in Bakersfield to time your investment.
How is the housing market in Bakersfield CA right now?
The Bakersfield housing market is experiencing strong price appreciation, up 6.3% year-over-year, even with a 14.7% drop in sales. Despite a 2.9-month supply and a 29.7% increase in inventory, competition remains for desirable houses in Bakersfield. This is evidenced by the rising percentage of above-list-price sales, indicating a market transitioning towards balance while retaining competitive segments.
When will the Bakersfield housing market shift?
The Bakersfield housing market forecast shows things are starting to balance out, with more homes available. But, prices are still going up and many homes sell for over the asking price, so it's unlikely to become a buyer's market in 2025. Bakersfield's cheaper prices compared to other California cities should keep buyers interested, even with higher interest rates.
How to buy a home in Bakersfield?
The steps of buying a home in Bakersfield should begin with a clear budget and mortgage pre-approval. Buyers should then search for homes for sale in Bakersfield, submit offers, secure loans, and complete the closing process.
How can I list my house for sale in Bakersfield California?
You can list your home for sale with a Flat Fee MLS California listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Bakersfield?
The average mortgage rate for buyers in Bakersfield currently fluctuates between 6.43% and 7.02%. Actual rates depend on market conditions and the borrower's credit score. Always check current rates with multiple lenders.
What is the cost of living in Bakersfield, CA?
Bakersfield's cost of living is approximately 12% higher than the national average and about 20% lower than the California state average. Housing costs are substantially more affordable than most California cities, with the median price at $425,000. Other expenses like groceries, utilities, and transportation also tend to be lower than state averages, making Bakersfield an attractive option for those seeking California living at a more accessible price point.
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