Real Estate

This home on the corner of Pine and 24th streets was being offered at $374,950 and located in the Westchester area in downtown Bakersfield.

Bakersfield's home market is ending the "off-peak" sales season on a high note.

March's median closing price for an existing single-family home in the city came to $250,000, its highest since October 2007, according to a report by local appraiser Gary Crabtree.

The March median was 2.8 percent greater than February's mark and 6.4 percent more than a year before.

Market supply, measured in current home listings, was down 5 percent from March at 906, which was 14 percent below its total a year earlier.

"Overall, the housing market is gaining strength and now is only 17 percent below its 2006 peak and mirrors last year's peak reached in July-August 2018," Crabtree wrote in a note accompanying his monthly home sales report.

Bakersfield home sales transition from the off-peak season every spring. It switches back in the fall.

(2) comments

Inconvenient Truth

The Bubble has returned; that's wonderful news!
Now, if you buy a home at the currently inflated prices you'll only have to wait another 12 years to break even...

Gary Crabtree

Not quite yet. If you buy in 2020, then you should worry.

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.