“California’s housing market kicked off the second half of the year with a moderate increase in home sales in July as interest rates continued their downward trend,” the association’s President Melanie Barker said in a recent news release.
Though the housing market is entering its off-season, Barker said there is a possibility for the market to “remain vibrant in the coming months” if home availability increases and mortgage rates continue to decline in the coming months.
If you’re looking to buy a home, here’s where you can find affordable housing options in California:
How much do homes cost in California?
Statewide, the median home price “slipped in July for the second month in a row, after setting a record high in May,” the association said in its July home sales and price report .
The median price for an existing single-family home in the state dropped to $886,560, according to the report.
Despite this drop, the statewide median home price remains 6.5% higher than the cost for an existing single-family home reported in July 2023: $832,530 ,
A housing development in Lincoln on Monday, July 24, 2023, reaches Highway 65. Over the past three years, the city’s growth rate was the fifth highest among cities in California with at least 40,000 residents, according to The Bee’s analysis Hector Amezcua/hamezcua@sacbee.com
Where are the cheapest house prices in California?
California’s cheapest home prices can largely be found in Northern California and the Central Valley.
According to the report, these 11 California counties had home prices below the state median of $886,560 in July:
1. Lassen County
Median sold price of existing single-family homes: $265,000
Region: Northern California
2. Tehama County
Median sold price of existing single-family homes: $290,000
Region: Northern California
3. Trinity County
Median sold price of existing single-family homes: $297,500
Region: Northern California
4. Siskiyou County
Median sold price of existing single-family homes: $326,770
Region: Northern California
5. Glenn County
Median sold price of existing single-family homes: $330,500
Region: Central Valley
6. Lake County
Median sold price of existing single-family homes: $350,000
Region: Northern California
7. Kings County
Median sold price of existing single-family homes: $369,000
Region: Central Valley
8. Tulare County
Median sold price of existing single-family homes: $380,000
Region: Central Valley
9. Tuolumne County
Median sold price of existing single-family homes: $385,000
Region: Sierra Nevada
Imperial County
Median sold price of existing single-family homes: $385,000
Region: Southern California
10. Shasta County
Median sold price of existing single-family homes: $394,450
Region: Northern California
New homes rise in the Delta Shores development near the shopping center in south Sacramento on Dec. 12, 2023. Sara Nevis/Sacramento Bee file
Where are the most expensive homes in California?
These five California counties had the most expensive median home sales prices in July:
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