Real Estate

Monday, May 05 2014 04:45 PM

Bakersfield home prices slip despite rising demand

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    Appraiser Gary Crabtree

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By The Bakersfield Californian

Bakersfield existing home prices slipped last month on a median and per-square-foot basis, even as the number of sales in the city increased significantly.

A sales summary issued Monday by local appraiser Gary Crabtree said April's median closing price -- the point at which half the homes sold for more and half sold for less -- was $195,880. That was a 2.1 percent decline from March but an 8.8 percent increase from April 2013.

Factoring in home size, the report said Bakersfield single-family home prices declined 3.6 percent from March to reach $122.93 per square foot. That represented a 10.5 percent increase from April 2013.

The number of homes sold last month rose 18.4 percent to 534, or 4.3 percent more than sold in Bakersfield in April 2013.

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