Median home price in California by Counties💲InstaMortgage.com

Shashank Shekhar

May 24, 2023

4 Minutes Read

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The median home price in California has reached its highest level since 2007, coming in at $522,440 for February 2018 (data compiled by the California Association of Realtors – CAR.) That’s an 8.8% increase, year to year, from February 2017, when the median home price in the state was $480,270. The peak of the market for California came in May of 2007 when the median home price was $594,530.

According to CAR “year-over-year price gain has been growing at or above 7 percent for eight of the past nine months.”

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The counties with February’s highest median prices are all in the Bay Area:

San Francisco County: $1,730,000
San Mateo County: $1,610,000
Santa Clara County: $1,383,500
Marin County: $1,371,000

The counties with the next highest median prices are:

Orange County: $805,380
Santa Cruz County: $800,000
Santa Barbara County: $755,000

According to the National Association of Realtors (NAR) chief economist Lawrence Yun, “The very healthy U.S. economy and labor market are creating a sizeable interest in buying a home in early 2018. However, even as seasonal inventory gains helped boost sales last month, home prices – especially in the West – shot up considerably. Affordability continues to be a pressing issue because new and existing housing supply is still severely subpar.”

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The median price for Condos/Townhomes has been growing at a faster pace than existing single-family homes, with a 13.3% increase, year over year. The $461,400 statewide median price is the highest on record, beating June 2017’s $451,450.

While shrinking inventory continues to hamper home buyers in the state, the 422,910 single-family units sold in February 2018 was a 5.4% increase from February 2017’s 401,060 single-family units. These results seem to be driven by sales in the Bay Area counties, which saw home sales surge in February as compared to Southern California where home sales continue to decline.

CAR broke down the data regionally throughout the state and noted:

Sales increased in eight of nine Bay Area counties, with Contra Costa (11.2 percent), Napa (18.2 percent), and San Mateo (16.1 percent) all increasing by double digits.
Central Valley also experienced an increase in sales, as the region maintained its momentum for the second consecutive month. Sales of existing single-family homes were up 6.3 percent when compared to last February.
The Southern California market was not as robust as the Bay Area and the Central Valley with an overall sales decline of 2.8 percent when compared to last February.
While the price growth in Southern California was not as strong as that of the Bay Area, the increase was still robust. All counties increased on a year-over-year basis by at least 4.5 percent with Los Angeles rising the most at 12.1 percent. Orange County followed with an 8.1 percent year-over-year increase, surpassing the $800,000 benchmark for the first time and setting a new record high median price ($805,380).

The full breakdown by county, statewide, from CAR’s Current Sales Price and Statistics:

February 2017 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

February 2018	Median Sold Price of Existing Single-Family Homes						Sales
State/Region/County	Feb. 2018	Jan. 2018		Feb. 2017	Price MTM% Chg	Price YTY% Chg	Sales MTM% Chg	Sales YTY% Chg
CA Single-family home	$522,440	$527,780	r	$480,270	-1.0%	8.8%	3.3%	5.4%
CA Condo/Townhomes	$461,400	$433,160	r	$407,100	6.5%	13.3%	5.5%	-2.4%
Los Angeles Metro Area	$497,730	$492,450		$454,520	1.1%	9.5%	-7.3%	-2.5%
Inland Empire	$352,570	$349,710		$327,440	0.8%	7.7%	-3.6%	-1.2%
San Francisco Bay Area	$893,690	$809,900		$784,470	10.3%	13.9%	7.5%	7.1%

San Francisco Bay Area
Alameda	$832,000	$840,000		$786,000	-1.0%	5.9%	5.4%	6.8%
Contra Costa	$610,000	$555,000		$554,250	9.9%	10.1%	0.7%	11.2%
Marin	$1,371,000	$1,317,500		$1,174,500	4.1%	16.7%	1.2%	1.2%
Napa	$713,500	$662,000		$660,000	7.8%	8.1%	-7.9%	18.6%
San Francisco	$1,730,000	$1,330,000		$1,276,000	30.1%	35.6%	8.6%	-4.7%
San Mateo	$1,610,000	$1,437,500		$1,352,000	12.0%	19.1%	30.2%	16.1%
Santa Clara	$1,383,500	$1,170,000		$1,100,000	18.2%	25.8%	19.3%	5.7%
Solano	$430,000	$425,000		$382,500	1.2%	12.4%	8.0%	3.1%
Sonoma	$689,000	$670,000		$598,640	2.8%	15.1%	-5.5%	3.9%
Southern California
Los Angeles	$527,280	$564,100		$470,200	-6.5%	12.1%	-6.0%	-3.9%
Orange	$805,380	$780,000		$745,000	3.3%	8.1%	5.0%	-1.0%
Riverside	$396,250	$397,250		$367,250	-0.3%	7.9%	1.7%	-0.8%
San Bernardino	$278,000	$277,000		$265,000	0.4%	4.9%	-11.2%	-2.0%
San Diego	$605,000	$590,000		$559,950	2.5%	8.0%	4.7%	-3.9%
Ventura	$609,000	$660,720		$582,500	-7.8%	4.5%	-17.7%	-7.1%
Central Coast
Monterey	$590,000	$571,500		$535,000	3.2%	10.3%	-8.2%	7.7%
San Luis Obispo	$605,000	$565,000		$556,000	7.1%	8.8%	-21.9%	-4.3%
Santa Barbara	$755,000	$567,000		$844,000	33.2%	-10.5%	1.3%	16.7%
Santa Cruz	$800,000	$790,000		$799,000	1.3%	0.1%	-23.5%	-9.3%
Central Valley
Fresno	$265,000	$245,450	r	$230,000	8.0%	15.2%	4.0%	5.7%
Glenn	$219,600	$228,500		$181,500	-3.9%	21.0%	-31.3%	-8.3%
Kern	$237,000	$225,500		$218,000	5.1%	8.7%	3.4%	4.2%
Kings	$215,000	$238,000		$222,500	-9.7%	-3.4%	-11.1%	-17.9%
Madera	$255,000	$275,000		$230,000	-7.3%	10.9%	17.6%	-55.6%
Merced	$267,850	$257,000		$231,000	4.2%	16.0%	2.8%	31.0%
Placer	$472,370	$446,000		$435,000	5.9%	8.6%	-0.6%	0.0%
Sacramento	$350,000	$350,000		$324,900	0.0%	7.7%	0.4%	11.4%
San Benito	$545,000	$555,000		$517,500	-1.8%	5.3%	-18.6%	-7.9%
San Joaquin	$365,000	$350,000		$314,730	4.3%	16.0%	-4.8%	9.4%
Stanislaus	$300,000	$295,000		$270,500	1.7%	10.9%	-5.9%	-4.5%
Tulare	$225,000	$215,730		$216,500	4.3%	3.9%	-0.4%	3.5%
Other Calif. Counties
Amador	$318,500	$330,000		$265,000	-3.5%	20.2%	15.2%	65.2%
Butte	$297,000	$314,750		$290,000	-5.6%	2.4%	0.0%	-6.1%
Calaveras	$311,500	$306,500		$294,500	1.6%	5.8%	7.5%	22.9%
Del Norte	$216,500	$198,500		$265,000	9.1%	-18.3%	-10.0%	28.6%
El Dorado	$468,000	$480,000		$419,500	-2.5%	11.6%	-5.0%	24.3%
Humboldt	$291,700	$300,000		$297,500	-2.8%	-1.9%	-7.0%	17.6%
Lake	$234,500	$279,000		$230,000	-15.9%	2.0%	-7.4%	8.7%
Lassen	$280,000	$217,750		$171,000	28.6%	63.7%	-35.0%	44.4%
Mariposa	$357,000	$276,500		$335,000	29.1%	6.6%	37.5%	-26.7%
Mendocino	$420,000	$425,000		$381,500	-1.2%	10.1%	-26.3%	-9.7%
Mono	$830,000	$480,000		$520,880	72.9%	59.3%	80.0%	50.0%
Nevada	$400,000	$382,000		$390,000	4.7%	2.6%	33.3%	28.0%
Plumas	$261,500	$265,950		$210,000	-1.7%	24.5%	-30.0%	16.7%
Shasta	$255,000	$249,000		$235,000	2.4%	8.5%	-2.6%	7.4%
Siskiyou	$200,000	$193,000		$240,000	3.6%	-16.7%	-17.5%	43.5%
Sutter	$283,500	$284,200		$269,120	-0.2%	5.3%	8.3%	69.6%
Tehama	$189,000	$227,500		$225,000	-16.9%	-16.0%	3.1%	73.7%
Tuolumne	$274,000	$265,000		$287,500	3.4%	-4.7%	-25.5%	-14.6%
Yolo	$397,500	$383,000		$372,000	3.8%	6.9%	6.2%	-4.4%
Yuba	$269,000	$265,360		$256,500	1.4%	4.9%	5.2%	-11.6%