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Take a look at the article linked below. It gives you great insight on our current local market here in Kern. I've mentioned several key point on previous emails. We are in a "transitional phase or market," we are not in a strong buyers market, and the strong sellers market we had is beginning to soften. Day on the market has gone up and price reductions are becoming a norm. No more bidding wars.
"If you're a buyer, this could be good news. You may have more negotiating power and more time to find the right home. Don't rush into a purchase, and be sure to shop around for the best mortgage rates.
If you're a seller, it's important to be realistic about your asking price. Don't overprice your home, and be prepared to negotiate with buyers. Consider making improvements to your home to make it more attractive to potential buyers."
"Based on these trends, my take is that the Bakersfield housing market is in a transitional phase. While prices are still up compared to last year, the market is showing signs of cooling down. The increase in homes with price drops and the longer days on market suggest that buyers are becoming more cautious.

Given the current mortgage rate environment, I expect this trend to continue in the coming months. While I don't anticipate a major crash in home prices, I do think we'll see a more balanced market with less intense competition among buyers."

Bakersfield Housing Market Prices and Forecast 2025-2026 - Click Here

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