Real Estate

Monday, May 05 2014 04:45 PM

Bakersfield home prices slip despite rising demand

  1. 1 of 1

    Appraiser Gary Crabtree

    click to expand click to collapse
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.

Have something to share? Comment on this story
Today's Daily Deal
Daily Deal Image
The Nines Restaurant
50% off Dining at The Nines Restaurant 
  • Value
  • Savings
  • Bought
Buy Now