Discerning A Housing Bubble: Bakersfield, CA

October 26, 2005 by Chuck | 4 Comments

Bakersfield Home Prices Fall

As this graph shows, the asking price of homes in Bakersfield, CA peaked in June at $397,000.

It has dropped to $354,000 or 16% in 4 months.

While asking prices aren’t selling prices, the selling price never goes ABOVE the asking price.

Will prices recover or is this a housing bubble starting to burst?

Full size graph here…

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Comments

  • mark askey on October 26th, 2005 at 2:08 pm

    I would challenge the statement that the selling price never goes above the asking price.

    There are many instance where people will offer more than the asking price, especially if they think there are multiple offers on the home.

    All the graph shows is that people are being more conservative in their listing prices.

  • Chuck on November 9th, 2005 at 10:30 am

    Thanks for your comment, I appreciate it.

    Yes, it’s possible that a bidding war may break out on a particular house.

    These usually do not occur wholesale… at least whe I was selling the house anyway!

    I hope you have better fortunes in this regard!

  • david on December 5th, 2006 at 3:10 pm

    what is the best most stable place in Bakersfield to purchase a home……or if anyone has any suggestions of where to purchase horse property w/views especially property on the water in the area??? would love some feed back.

    Best,

    David

  • difficult to find on September 24th, 2012 at 4:37 am

    You are so cool! I do not think I’ve truly read something like that before. So wonderful to find someone with genuine thoughts on this subject matter. Seriously.. thank you for starting this up. This site is something that is needed on the internet, someone with a bit of originality!

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