Bakersfield's home market shifted dramatically to the off-peak buying season in September, as a big drop in demand outpaced a mild decline in supply.

Last month's sales totaled 487 closings, a 22 percent plunge in market demand as compared with August, according to data from Affiliated Appraisers. Year over year, the total was off 8 percent, suggesting the home-buying season came to a more abrupt end this year than last.

Supply, as measured by the number of single-family homes listed for sale in September, was down 4.7 percent at 1,289. The decline in available inventory from a year earlier measured just 1.7 percent.

The bottom-line result was that September's median sale price for a single-family home in Bakersfield came to $243,000, a 2.8 percent decrease from August but a 2.5 percent increase from September 2017.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
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.