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.