What are single family home prices doing in Bakersfield. As an appraiser I work with the value of homes in Bakersfield and Kern County every day. The latest study shows that home prices in Bakersfield have declined from January of 2007 with an average price of $290,000 to an average in January of 2008 of $235,000. This is a decline of 18.7% over the past 12 months. This report was for resale single family residences as well and condo's and new homes.
Most of my studies recently are showing ranges of 15% to 24% over the past year with most of that decline coming in the last 6 to 8 months. The range of rates is for different parts of Bakersfield as the real estate market often varies from one neighborhood to another.
If you would like a study done on an area you are thinking of investing in or buying a home in please give me a call and I can do a study for you.