Top Mega Teams in Bakersfield, California – Ranked by Volume

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2023 Bakersfield, California Housing Market Summary

Bakersfield, California started 2023 with a total of 647 single-family homes on the market, with a median home price of $424,900 and an average price per square foot of $229. By the end of the year, inventory had decreased to 526 homes on the market (-18%), with a median home price of $425,450 (+0%) and an average price per square foot of $251 (+9%).

At the start of 2023, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 56 days.

Bakersfield started the year with 39% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 42% of Bakersfield homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Bakersfield started 2023 as a strong seller’s market, with an MAI score of 50; by the end of the year, the MAI had dropped to 43 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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