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Bakersfield Housing Activity

By
Real Estate Appraiser with Fariss Appraisal Services

In a prior post I estimated that Bakersfield will end up with around 6,200 sales of single family homes for the year, which is about 40% lower than 2006. I just looked at the number of homes currently listed - 3,993! Wow. There is almost a full year's worth of inventory on the market right now. Okay, not quite a year's worth but about two-third's.

With 268 sales per month in Bakersfield, the inventory of homes for sale will last for about 14 months. Of course, this varies quite a bit depending on the neighborhood. I've seen some neighborhoods with inventories that will last 2 years! 

The listings are averaging 83 days on market which is well above the average of 63 days for all the sales year-to-date. I think Bakersfield is in for a very slow winter.

 

Comments (2)

Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
ouch. We have inventory issues here too. Things are tough
Oct 27, 2007 03:29 AM
David Vera
Century 21 Sunny Hills - Fullerton, CA
Hello John, I feel your pain. The good news is most agents with little or no sale skills will be changing profession very soon. My wife works for the human resource department for one of our local cities and she says they have agents coming in every day asking what jobs are available. This is the time to really work on our people/sales skills so we can dominate the market when it comes back up. Hang in there buddy.
Oct 27, 2007 04:00 AM