Is Cerritos, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cerritos has remained a Seller's Market.
Key Takeaway
Cerritos is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cerritos, CA
How much do homes in Cerritos, CA cost?
Median Sold Price
$1,049,500
$607/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cerritos have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Cerritos was $1,049,500 in May 2024, up 12.8% from last year, and the median price per square foot was $607.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $425K | $281K | -33.9% |
| 2 Bedrooms | $510K | $551K | +8.0% |
| 3 Bedrooms | $897.5K | $920.5K | +2.6% |
| 4 Bedrooms | $1.0M | $1.1M | +10.2% |
| 5+ Bedrooms | $1.2M | $1.3M | +10.1% |
Summary: Cerritos housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 10.1%.
Housing Supply in Cerritos, CA
How many homes are available in Cerritos, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 59 | +13.5% |
Summary: The Cerritos real estate market had 59 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 23 | 23 | 0.0% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Cerritos housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cerritos, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Cerritos in May 2024, up by 15.8% month-over-month. Of the 22 sold homes, 23% were sold under asking, 14% were sold at asking, and 64% were sold over asking.
Days on Market for Cerritos, CA
How long does it take to sell a home in Cerritos, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 12 Days | -52.4% |
Summary: Homes in Cerritos had an average of 12 days on market in May 2024, down by 52.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cerritos are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Cerritos; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.