Home prices in California were up 6.7% year-over-year in July. At the same time, the number of homes sold rose 12.4% and the number of homes for sale rose 26.3%.
What is the housing market like right now?
In July 2024, home prices in California were up 6.7% compared to last year, selling for a median price of $836,100. On average, the number of homes sold was up 12.4% year over year and there were 25,913 homes sold in July this year, up 23,059 homes sold in July last year. The median days on the market was 30 days, up 5 year over year. …
Median Sale Price +6.7% year-over-year # of Homes Sold +12.4% year-over-year Median Days on Market +5 year-over-year All Home Types 1 year 3 years 5 years Median Sale PriceThe direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $836,100. …
Median Sale Price (All Home Types) +6.7% YoY | Jul 2024 Based on Redfin calculations of home data from MLS and/or public records. What does this mean?The direction and pace at which home prices are changing are indicators of the strength of the housing market and whether homes are becoming more or less affordable. The median price of a home in the United States is currently $836,100.
California
Redfin agents are among the most experienced in the industry, so we know how to help you win in today's market.
Are there enough homes for sale to meet buyer demand?
In July 2024, there were 98,466 homes for sale in California, up 26.3% year over year. The number of newly listed homes was 32,266 and up 12.5% year over year. The average months of supply is 3 months, up 0 year over year. …
# of Homes for Sale +26.3% year-over-year # of Newly Listed Homes +12.5% year-over-year Months of Supply +0 year-over-year All Home Types 1 year 3 years 5 years # of Homes for SaleThe direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 98,466 residential homes for sale in the United States. …
# of Homes for Sale (All Home Types) +26.3% YoY | Jul 2024 Based on Redfin calculations of home data from MLS and/or public records. What does this mean?The direction and pace at which housing supply changes indicate whether the options for buyers are increasing or decreasing. They can also indicate whether homes are lingering on the market or being sold faster than sellers are listing them. There are currently 98,466 residential homes for sale in the United States.
CaliforniaNationwide, 26% of homebuyers searched to move to a different metro area between Jun '24 - Aug '24. The top 5 states homebuyers searched to move to were Florida, North Carolina, South Carolina, Tennessee, and Arizona while California, New York, Illinois, Massachusetts, and Washington were the top 5 states homebuyers searched to move from.
Of all the major U.S. metros, Sacramento was the most searched for destination among homebuyers looking to relocate between Jun '24 - Aug '24. Next came Sarasota, Myrtle Beach, Orlando, and Cape Coral. Los Angeles was the most searched for destination among homebuyers looking to leave, followed by New York, San Francisco, Seattle and Washington.
