It’s hard to believe that a decade has passed since the great economic recession. But even after ten (long) years – and with stability returning, at least for the most part – there are still some good deals to be found in Bakersfield…provided that you know where to look.
Amidst the roller coaster market of roughly ten years ago, Bakersfield in particular has been somewhat slow to recover – at least as compared to some of the other large and mid-sized U.S. cities. But that could actually end up to be a good thing – particularly for those who are in the market to purchase.
According to Zillow.com, the median home value in Bakersfield, California, today is in the neighborhood of $231,000. This represents an increase of 3.5% over the past year. Presently, the average listing price in the area is just a few dollars shy of $270,000, with a median sale price of $242,200. Going forward, Zillow predicts that these Bakersfield home values will continue to rise by approximately 3.6% within the next year.
In any case, it’s been estimated by some that the local Bakersfield housing market is currently considered to be more affordable than most in the vicinity, which makes now a very good time to take a closer look at what your housing dollars could secure. In fact, buying could be particularly beneficial to those who currently rent, as the median rental price in Bakersfield is now sitting at just under $1,500 per month.
If you’re thinking about making a move any time soon in or around the Bakersfield area, give us a call. We’ll work with you on narrowing down the ideal property specs in your desired location – and, we can assist you with determining the very best list price for your existing residence.