More Than Half of Bakersfield Homebuyers Are Doing This One Thing

More than half of all existing home sales in Bakersfield last month closed with some type of financial help from the seller. According to the latest Crabtree Report, 58 percent of buyers received a seller concession when purchasing a home in Bakersfield. That is a significant share, and it is reshaping the way buyers structure their offers and how sellers prepare their homes for the market.

If you are planning to buy or sell a home in the coming months, understanding what concessions are, why they are being used, and how they influence your bottom line can help you make stronger decisions. Below is a breakdown of what this trend means for Bakersfield’s real estate market and what it means for you.

What Exactly Is a Concession?

A concession is anything a seller agrees to pay for on behalf of the buyer to help facilitate the purchase of a home. The most common concessions buyers ask for are for the seller to cover all or a portion of the buyer’s closing costs or for the seller to help fund an interest rate buydown. Both options help reduce the buyer’s upfront expenses or lower their monthly mortgage payment, which can make a home purchase more achievable.

Why Are So Many Buyers Requesting Concessions Right Now?

Buyers are becoming more cost conscious, and for good reason. Even though interest rates have been trending downward, affordability remains a real challenge for many households. Buyers are navigating higher home prices, higher insurance costs, and the rising cost of day-to-day living. Concessions can help ease the pressure.

Here are a few reasons buyers in Bakersfield are asking for concessions:

1. Stretched Budgets

With home prices reaching new highs, many buyers are directing as much money as possible toward their down payment. Concessions allow them to reduce or eliminate closing costs, making the purchase more manageable.

2. Rate Buydowns Offer Long-Term Relief

Temporary or permanent rate buydowns can significantly reduce a buyer’s mortgage payment. With sellers helping fund the buydown, buyers receive a more affordable monthly payment without raising their initial cash requirement.

3. Tight Cash Flow During the Move

Even financially strong buyers often request concessions because moving, furnishing a home, and handling utilities or unexpected repairs can add up quickly. Keeping more money in reserves makes the transition smoother.

4. Increased Buyer Selectivity

Buyers today are more discerning. They want move-in ready homes, updated spaces, and fewer headaches. If a home needs repairs or updates, buyers are more likely to ask for a credit to keep the deal moving forward.

What Sellers Need to Know

The rise of concessions does not mean the Bakersfield housing market is weakening. In fact, demand locally remains solid, especially compared to many other parts of California. What it does mean is that buyers are prioritizing affordability, and sellers who understand the landscape typically attract more interest and receive stronger offers.

If you are a seller, offering the right concession can make your home stand out among similar listings. That does not mean giving away unnecessary credits. It means pricing strategically, preparing the home properly, and understanding what today’s buyers value most. With over 11,000 homes sold in Kern County, our team has seen firsthand how the right negotiation strategy can put more money in your pocket.

What Buyers Need to Know

If you are a buyer, this environment can work in your favor. With 58 percent of recent sales including concessions, it is worth exploring whether a seller credit could help reduce your upfront costs or secure a better interest rate. The experienced Buyer’s Specialists at The McCarty Group can help identify opportunities and negotiate them effectively.

Thinking About Buying or Selling in Bakersfield?

Whether you want to take advantage of concessions as a buyer or want expert guidance on how to use concession strategies as a seller, Laurie McCarty and The McCarty Group are here to help. If you would like a personalized breakdown of what today’s market means for your goals, call or text 661-665-SOLD. Our team would be honored to guide you every step of the way.