Newly released data for December shows that potential buyers and sellers in San Joaquin County saw houses sell for lower than the previous month's median sale price of $665,000.
The median home sold for $550,000, an analysis of data from Realtor.com shows. That means December, the most recent month for which figures are available, was down 17.3% from November.
Compared to December 2022, the median home sale price was down 23.6% at $550,000 compared to $720,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.recordnet.com.
Looking only at single-family homes, the $555,000 median selling price in San Joaquin County was down 17.8% in December from $675,000 the month prior. Since December 2022, the sale price of single-family homes was down 24.6% from a median of $736,500.
Ninety-seven single family homes sold for $1 million or more during the month, compared to 303 recorded transactions of at least $1 million in December 2022.
Condominiums and townhomes decreased by 24.5% in sales price during December to a median of $385,000 from $510,000 in November. Compared to December 2022, the sales price of condominiums and townhomes was down 15.6% from $456,000. Three condominiums or townhomes sold for $1 million or more during the month, compared to 16 recorded transactions of at least $1 million in December 2022.
In December, the number of recorded sales in San Joaquin County dropped by 35.2% since December 2022 from 752 to 487. All residential home sales totaled to $1.8 billion.
In California, homes sold at a median of $700,000 during December, down 2.1% from $714,899 in November. There were 20,462 recorded sales across the state during December, down 8.9% from 22,456 recorded sales in December 2022.
The total value of recorded residential home sales in California decreased by 3.7% from $30.5 billion in November to $29.4 billion this December.
Out of all residential home sales in California, 29.93% of homes sold for at least $1 million in December, up from 27.45% in December 2022.
Sales prices of single-family homes across California decreased by 2.8% from a median of $720,381 in November to $700,000 in December. Since December 2022, the sale price of single-family homes across the state was up 5.7% from $662,034.
Across the state, the sale price of condominiums and townhomes dropped 0.2% from a median of $695,390 in November to $693,858 during December. The median sale price of condominiums and townhomes is up 0.9% from the median of $687,760 in December 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
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