Home prices are trending up in California.
According to the California Association of Realtors’ March home sales and price report, the median sold price of an existing single family home in California averaged $854,490 — which was an increase of 6% from February.
Overall, the statewide median home price has risen almost 8% since March 2023.
Despite increasing prices, the state’s housing market “lost momentum in March as sales fell on a year-over-year basis for the first time in three months,” the association said in a news release Wednesday.
The continuously high mortgage rates have hindered home sales.
“With mortgage rates reaching the highest levels since mid-November 2023, the housing market struggled to build on the momentum exhibited in the first two months of this year,” said Jordan Levine, the association’s Vice President, in the news release.
As of Wednesday, the average interest rate for a 30-year fixed mortgage in California is at 7.05%, according to Zillow.
If you’re looking to buy a house, here’s how the association ranked California’s counties by their March median home sales prices:
Where are the cheapest counties to buy a house in California?
According to the association’s March home sales and price report, these 10 counties had home prices below than the state median:
1. Lassen County
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Median sold price of existing single-family homes: $247,000
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Region: Northern California
2. Tehama County
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Median sold price of existing single-family homes: $286,250
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Region: Northern California
3. Lake County
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Median sold 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 sold price of existing single-family homes: $349,000
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Region: Southern California
7. Siskiyou County
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Median sold price of existing single-family homes: $350,000
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Region: Northern California
8. Trinity County
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Median sold price of existing single-family homes: $360,000
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Region: Northern California
9. Shasta County
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Median sold 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?
Homes in the Bay Area remained the most expensive.
Prices surpassed the state median for a single family home, reaching above $2 million.
According to the home sales and price 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 California county
You can see the full list of counties on the Realtors’ association website.
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A storied Bay Area estate that has failed to sell twice already is once again up for grabs.
Green Gables, a massive 74-acre compound at 329 Albion Ave. in Woodside, is for sale for $110 million. The historic property has been in the same family, the Fleishhackers, for five generations. It includes seven homes and a 100-yard Roman pool (the family had a thing for huge pools) flanked by dramatic stone arches and sprawling gardens.
The seven buildings include a total of 34 bedrooms and 26 bathrooms, with a main house spanning 10,000 square feet. There are also three additional swimming pools, a tennis court and even a reservoir that’s exclusively for the property.
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The Peninsula compound first hit the market in 2021 for $135 million and went on sale again in 2022 for $125 million, but never nabbed a buyer.
Aside from the big price cut, another change from previous years is that a reality TV star has joined the marketing team. Mauricio Umansky, perhaps best known for appearing on Bravo’s “Real Housewives of Beverly Hills” and being Kyle Richards’ husband (though the couple is reportedly separated), is also the founder and CEO of The Agency, a global real estate group. The company has been expanding in Northern California and now has several offices in the region.
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“Whether it be a visionary tech magnate seeking a secluded retreat, an entrepreneur envisioning the birthplace of the next great think tank, or a forward-thinking family aspiring to create a timeless compound for future generations, Green Gables offers endless possibilities for the next buyer,” Umansky said in a statement emailed to SFGATE.
Marketing materials also emphasize redevelopment opportunities and even include renderings of potential additions like equestrian amenities, other sports facilities and another residence.
The celebrated estate has a serious architectural pedigree. Renowned architects Charles Sumner Greene and Henry Mather Greene, known for their work during the early 20th century Arts and Crafts movement, designed the property for San Francisco businessman Mortimer Fleishhacker as a summer escape. In 1933, William Wurster, one of California’s prominent modernist architects, designed a six-bedroom home that was added to the property. Celebrated landscape architect Thomas Church designed a wooden cabana and pool house.
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We’ll see if anyone bites this time.