House prices are emerging California.
According to the California Association of Realtors’ March Home Sales and Prices Report, this is the average sales price of an existing home single-family homes in California averaged $854,490 – which was an increase of 6% compared to February.
Overall, the median home price statewide has increased nearly 8% since March 2023.
Despite rising prices, the state’s housing market “lost momentum in March as sales fell year-over-year for the first time in three months,” the association said in a news release Wednesday.
Persistently high mortgage rates have hampered home sales.
“With mortgage rates reaching their highest levels since mid-November 2023, the housing market struggled to build on the momentum shown in the first two months of this year,” said association vice president Jordan Levine. press release.
From Wednesday the average interest rate for a 30-year fixed mortgage in California is 7.05%, according to Zillow.
If you’re looking to buy a home, here’s how the association ranked California counties based on their average home sales prices in March:
Where are the cheapest counties to buy a house in California?
According to the association’s March Home Sales and Prices Report, these 10 counties had home prices lower than the state median:
1. Lassen Province
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Median sales price of existing single-family homes: $247,000
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Region: Northern California
2. Tehama County
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Median sales price of existing single-family homes: $286,250
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Region: Northern California
3. Lake County
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Median sales price of existing single-family homes: $315,000
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Region: Northern California
4.Glenn County
5. Kings County
6. Imperial County
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Median sales price of existing single-family homes: $349,000
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Region: Southern California
7. Siskiyou County
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Median sales price of existing single-family homes: $350,000
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Region: Northern California
8. Trinity Province
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Median sales price of existing single-family homes: $360,000
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Region: Northern California
9. Shasta County
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Median sales price of existing single-family homes: $364,000
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Region: Northern California
10. Tulare County
Where are the most expensive home prices in California?
Houses in the Bay area remained the most expensive.
Prices exceeded the state median for a single-family home, reaching more than $2 million.
According to the Home Sales and Prices Report, these six counties had the most expensive home prices last month:
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San Mateo County – $2,170,000
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Marin County -$1,957,500
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Santa Clara County – $1,910,000
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San Francisco County – $1,745,000
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Alameda County and Orange County – $1,400,000
Find your county in California
You can view the full list of counties on the Realtors Association website.
What do you want to know about living in Sacramento? Ask our service journalism team your key questions in the module below or email servicejournalists@sacbee.com.
