Phelan Housing Market Report – May 2026
Here's a look at how the Phelan, CA real estate market performed in May 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 35
- Median Sale Price: $345,000
- Average Sale Price: $295,466
- Average Price Per Sq Ft: $269
- Average Days on Market: 128
- Sale-to-List Price Ratio: 100.0%
Month-Over-Month Trends
Compared to April, the median sale price in Phelan moved 8.2% down (from $376,000 to $345,000). The number of homes sold was 16.7% down compared to the prior month (42 vs. 35). Average days on market shifted 48.8% up (86 days to 128 days).
Year-Over-Year Comparison
Compared to May 2025, the median sale price is 6.8% down (from $370,000 to $345,000). Sales volume is 23.9% down year-over-year.
What This Means
Phelan's housing market is showing clear signs of cooling as we head into summer. May saw 35 homes sell at a median price of $345,000, down 8.2 percent from April and 6.8 percent year-over-year. More telling than the sales count is the jump in days on market, which climbed from 86 to 128 days—a troubling 48.8 percent increase that suggests homes are sitting longer before finding buyers. Despite this slowdown, the fact that homes are still selling at list price indicates the market hasn't deteriorated into distressed territory, but buyers are clearly taking their time and demanding more negotiating power.
The disconnect between the median sale price of $345,000 and the median asking price of just $175,000 in active listings hints at a market in transition. That large inventory of 317 active listings—many languishing at 230 days on market—suggests sellers may need to adjust expectations. Rising interest rates and the spring selling season tapering off are likely contributing to the slowdown, but for buyers, the extended market time creates opportunity. This is a buyer's market by the numbers, though the low price per square foot of $269 keeps Phelan relatively affordable compared to much of California.
Phelan Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 92371 | 35 | $345,000 | $269 | 128 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 15 | $445,000 | $276 |
| LAND | 10 | $55,500 | N/A |
| MOBILE | 6 | $350,000 | $250 |
| OTHER | 3 | $215,000 | N/A |
| MULTI_FAMILY | 1 | $183,000 | N/A |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| Under $100K | 8 |
| $100K - $199K | 4 |
| $200K - $299K | 2 |
| $300K - $399K | 10 |
| $400K - $499K | 6 |
| $500K - $749K | 5 |
Current Active Listings
As of this report, there are 317 active listings in Phelan with a median asking price of $175,000 and an average of 230 days on market.
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