California

<h2>The Changing Landscape of Bakersfield Real Estate</h2>
<p>The average <a href="https://www.realtytrac.com/market-trends/bakersfield-ca/">property value in Bakersfield</a> has seen an upward trajectory from May 2023 to April 2024. Starting at an average of $423k, prices dipped to their lowest at $360 by December of last tear. However, prices rebounded to an average of $400k in April 2024.</p>
<p>Regarding the specifics of property pricing, the per-square-foot value is a key indicator. This figure also displayed an increase over the same period, beginning at $220 and slightly decreasing to $221 by November 2023. It’s notable that by April 2024, the per-square-foot value had escalated to $231, suggesting that space within properties in Bakersfield is becoming more valuable.</p>
<p>Variability was also present in the volume of properties sold. October 2023 marked a high, with 5,451 properties sold, while March 2024 saw a reduced figure of 4,317 properties changing hands. These shifts can be indicative of changing market conditions, buyer confidence, and availability of finance options.</p>
<h2>Comprehensive Evaluation of April 2024 Data</h2>
<h4 class="sc-fff60b4-3 bmIvnq">Bakersfield, CA Real Estate Market Overview</h4>
<div class="sc-d1a0c9c3-0 dNcHVF">
<div class="sc-d1a0c9c3-2 bViONd">
<table class="sc-4b91b296-0 NvpMl">
<thead class="sc-4b91b296-3 QrbDO">
<tr class="sc-4b91b296-1 kcFJPr">
<th class="sc-4b91b296-4 jDLFWw">Zip</th>
<th class="sc-4b91b296-4 jDLFWw">Median Est. Value</th>
<th class="sc-4b91b296-4 jDLFWw">Zip</th>
<th class="sc-4b91b296-4 jDLFWw">Median Est. Value</th>
</tr>
</thead>
<tbody class="sc-4b91b296-2 xbjXs">
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93308/">93308</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 349,000</p>
<p class="sc-4b91b296-7 gkIasT">$ 230/sqft</p>
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93313/">93313</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 408,500</p>
<p class="sc-4b91b296-7 gkIasT">$ 214/sqft</p>
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93306/">93306</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 353,037</p>
<p class="sc-4b91b296-7 gkIasT">$ 216/sqft</p>
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93309/">93309</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 349,754</p>
<p class="sc-4b91b296-7 gkIasT">$ 207/sqft</p>
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93311/">93311</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 478,625</p>
<p class="sc-4b91b296-7 gkIasT">$ 227/sqft</p>
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93304/">93304</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 294,250</p>
<p class="sc-4b91b296-7 gkIasT">$ 222/sqft</p>
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93312/">93312</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 449,000</p>
<p class="sc-4b91b296-7 gkIasT">$ 228/sqft</p>
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93305/">93305</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 287,750</p>
<p class="sc-4b91b296-7 gkIasT">$ 209/sqft</p>
</td>
</tr>
<tr class="sc-4b91b296-1 kcFJPr">
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93314/">93314</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 566,217</p>
<p class="sc-4b91b296-7 gkIasT">$ 232/sqft</p>
</td>
<td class="sc-4b91b296-5 eMzjte"><a class="sc-4b91b296-8 bAFlV" href="https://www.realtytrac.com/market-trends/bakersfield-ca-93301/">93301</a></td>
<td class="sc-4b91b296-5 eMzjte">
<p class="sc-4b91b296-6 hyyJXK">$ 340,750</p>
<p class="sc-4b91b296-7 gkIasT">$ 241/sqft</p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
<p>In April 2024, Bakersfield’s real estate presented a mixed picture. While the average sale price was $359,500, there was a notable difference between this and the average property value of $399,990, possibly pointing to a market where buyers can negotiate prices or where different property tiers are behaving differently. The <a href="https://www.realtytrac.com/bakersfield-ca/sold/">average sold per-square-foot value</a> stood at $225, illustrating that the price per unit area has maintained its upward trend.</p>
<p>When it comes to property availability, a total of 305 properties were on the market, with 4,683 properties successfully sold. This data indicates robust activity and a sizable number of transactions, showcasing Bakersfield as an active market for both buyers and sellers.</p>
<h2>Surrounding Cities: A Comparative Perspective</h2>
<p>The surrounding cities to Bakersfield also showed varying trends. In April 2024, Lamont recorded an average value of $282,500 with a per-square-foot value of $154. This was after experiencing a trough in February 2024 ($250,000), indicating an upward correction heading into April.</p>
<p>Shafter, on the other hand, experienced a decrease in its average value, dropping from $477,500 in February 2024 to $438,750 in April 2024, suggesting a market slowdown or potential buyer’s market situation.</p>
<p>Arvin’s market seemed to fluctuate, with an average value increase from January ($289,000) to March 2024 ($315,000), followed by a decline in April 2024 back down to $289,000. <a href="https://www.realtytrac.com/market-trends/mc-farland-ca/">Mc Farland</a> and Taft showed more significant fluctuations throughout the year, indicative of less stable market conditions. Mc Farland ended with an average value of $369,990 and a per-square-foot value of $265. Despite a higher per-square-foot value, Taft stood at a lower average value of $200,000 with a per-square-foot value of $191.</p>
<p>These neighboring cities, with their diverse trends, underscore the uniqueness of each locale and the variety of factors influencing property values. From the macroeconomic climate to local market forces, buyers and sellers in the greater Bakersfield area operate within a market that requires careful consideration to navigate successfully.</p>


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Resource

RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

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Manuel Martinez

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