LOS ANGELES, Aug. 17, 2021 /PRNewswire/ -- California's housing market moderated for the third straight month in July with both home sales and prices tempering from the heated market conditions seen over the past year, while still staying above pre-pandemic levels, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Infographic: https://www.car.org/en/Global/Infographics/m/a/July-2021-Sales-and-Price
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 428,980 in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2021 if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
July home sales dipped 1.6 percent on a monthly basis from 436,020 in June and were down 2 percent from a year ago, when 437,890 homes were sold on an annualized basis. July's sales level was the second highest level in a July in the past six years. Despite the downward trend, California home sales maintained a solid year-to-date increase of 27.3 percent.
"The California housing market continues to normalize from the white-hot conditions we experienced at the height of the pandemic with both sales and prices moderating as we slowly transition from the peak home-buying season into the fall," said C.A.R. President Dave Walsh. "The market remains solid, however, as sales were still the second highest level for a July in the last six years, and the statewide median price continues to perform above last year's level by double-digits. Housing supply, while improved, remains tight and market competition is still heated with homes flying off the market in record time."
After setting record highs for the past four consecutive months, California's median home price slipped 1 percent on a month-to-month basis to $811,170 in July, down from June's $819,630 and up 21.7 percent from the $666,320 recorded last July. The median price in California remained above the $800,000 benchmark for the fourth consecutive month.
"Despite dipping slightly from its record peak set in June, California's median price remains elevated as supply constraints continue to provide upward pressure to support home prices," said C.A.R. Vice President and Chief Economist Jordan Levine. "However, home prices should ease as housing inventory improves in the third quarter and the market continues to normalize during the traditional off-season."
Other key points from C.A.R.'s July 2021 resale housing report include:
Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.
*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.
**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 50 counties.
Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
July 2021 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
July 2021 | Median Sold Price of Existing Single-Family Homes | Sales | |||||||
State/Region/County | July 2021 | June 2021 | July 2020 | Price MTM% Chg | Price YTY% Chg | Sales MTM% Chg | Sales YTY% Chg | ||
Calif. Single-family homes | $811,170 | $819,630 | $666,320 | -1.0% | 21.7% | -1.6% | -2.0% | ||
Calif. Condo/Townhomes | $600,000 | $600,000 | $500,000 | 0.0% | 20.0% | -6.2% | 13.0% | ||
Los Angeles Metro Area | $731,000 | $737,500 | $590,000 | -0.9% | 23.9% | -10.1% | -2.1% | ||
Central Coast | $869,500 | $890,000 | $785,000 | -2.3% | 10.8% | -5.0% | -9.7% | ||
Central Valley | $451,950 | $452,000 | $377,720 | 0.0% | 19.7% | -8.3% | -12.0% | ||
Far North | $400,000 | $380,000 | $318,250 | 5.3% | 25.7% | -11.9% | -15.2% | ||
Inland Empire | $529,000 | $525,000 | $420,000 | 0.8% | 26.0% | -5.9% | -11.2% | ||
San Francisco Bay Area | $1,300,750 | $1,350,000 | $1,050,000 | -3.6% | 23.9% | -7.3% | -1.4% | ||
Southern California | $760,000 | $766,000 | $622,500 | -0.8% | 22.1% | -9.6% | -1.4% | ||
San Francisco Bay Area | |||||||||
Alameda | $1,300,000 | $1,300,000 | $1,027,500 | 0.0% | 26.5% | -3.1% | 9.4% | ||
Contra Costa | $940,000 | $990,000 | $785,000 | -5.1% | 19.7% | -5.0% | -3.7% | ||
Marin | $1,750,000 | $1,712,500 | $1,545,500 | 2.2% | 13.2% | -18.7% | -36.0% | ||
Napa | $939,000 | $955,500 | $782,500 | -1.7% | 20.0% | -25.7% | -36.9% | ||
San Francisco | $1,852,500 | $1,950,000 | $1,665,000 | -5.0% | 11.3% | -20.7% | 15.2% | ||
San Mateo | $2,110,000 | $2,275,000 | $1,719,440 | -7.3% | 22.7% | -4.7% | 2.3% | ||
Santa Clara | $1,670,000 | $1,750,000 | $1,380,000 | -4.6% | 21.0% | -10.3% | 11.3% | ||
Solano | $590,000 | $575,000 | $499,750 | 2.6% | 18.1% | 4.2% | -14.7% | ||
Sonoma | $761,700 | $825,000 | $714,950 | -7.7% | 6.5% | -7.8% | -8.6% | ||
Southern California | |||||||||
Los Angeles | $809,750 | $796,120 | $660,340 | r | 1.7% | 22.6% | -13.5% | 6.4% | |
Orange | $1,090,000 | $1,138,000 | $880,000 | -4.2% | 23.9% | -12.7% | 1.1% | ||
Riverside | $570,000 | $575,000 | $462,000 | -0.9% | 23.4% | -6.7% | -9.9% | ||
San Bernardino | $440,000 | $435,000 | $350,000 | 1.1% | 25.7% | -4.5% | -13.2% | ||
San Diego | $860,000 | $865,000 | $719,000 | -0.6% | 19.6% | -7.4% | 1.4% | ||
Ventura | $825,000 | $840,000 | $720,000 | -1.8% | 14.6% | -4.4% | 1.9% | ||
Central Coast | |||||||||
Monterey | $828,500 | $862,500 | $749,500 | -3.9% | 10.5% | -7.6% | -24.4% | ||
San Luis Obispo | $795,000 | $799,000 | $659,000 | -0.5% | 20.6% | -10.3% | -3.0% | ||
Santa Barbara | $838,000 | $935,000 | $900,000 | -10.4% | -6.9% | 13.7% | 5.3% | ||
Santa Cruz | $1,185,000 | $1,175,000 | $985,000 | 0.9% | 20.3% | -15.5% | -17.4% | ||
Central Valley | |||||||||
Fresno | $370,000 | $375,000 | $320,000 | -1.3% | 15.6% | -11.7% | -7.5% | ||
Glenn | $320,000 | $310,000 | $257,500 | 3.2% | 24.3% | 144.4% | 57.1% | ||
Kern | $330,000 | $325,000 | $282,980 | 1.5% | 16.6% | -9.4% | -8.5% | ||
Kings | $320,000 | $295,000 | $275,000 | 8.5% | 16.4% | -6.5% | 6.3% | ||
Madera | $390,000 | $357,500 | $313,850 | 9.1% | 24.3% | -18.9% | -26.4% | ||
Merced | $357,500 | $360,000 | $319,900 | -0.7% | 11.8% | -19.7% | -39.0% | ||
Placer | $650,000 | $670,500 | $550,000 | -3.1% | 18.2% | -10.2% | -16.4% | ||
Sacramento | $514,000 | $525,000 | $422,740 | -2.1% | 21.6% | -8.7% | -12.4% | ||
San Benito | $781,000 | $794,690 | $675,000 | -1.7% | 15.7% | -18.9% | -17.8% | ||
San Joaquin | $506,000 | $515,000 | $410,000 | -1.7% | 23.4% | -4.8% | -14.6% | ||
Stanislaus | $430,000 | $430,000 | $360,000 | 0.0% | 19.4% | 0.9% | -2.9% | ||
Tulare | $330,000 | $335,000 | $268,000 | -1.5% | 23.1% | -2.8% | -8.4% | ||
Far North | |||||||||
Butte | $454,500 | $438,000 | $395,000 | 3.8% | 15.1% | 3.3% | -1.6% | ||
Lassen | $215,000 | $244,950 | $205,000 | -12.2% | 4.9% | -26.5% | -19.4% | ||
Plumas | $454,500 | $395,000 | $350,000 | 15.1% | 29.9% | -13.7% | -34.3% | ||
Shasta | $370,000 | $365,000 | $300,000 | 1.4% | 23.3% | -14.4% | -17.3% | ||
Siskiyou | $350,000 | $300,000 | $253,000 | 16.7% | 38.3% | -24.7% | -9.8% | ||
Tehama | $402,500 | $318,500 | $264,000 | 26.4% | 52.5% | -19.2% | -27.6% | ||
Other Calif. Counties | |||||||||
Amador | $416,000 | $461,000 | $355,000 | -9.8% | 17.2% | 1.4% | -16.7% | ||
Calaveras | $463,500 | $488,280 | $349,900 | -5.1% | 32.5% | -16.7% | -37.1% | ||
Del Norte | $355,000 | $358,500 | $332,000 | -1.0% | 6.9% | 3.7% | 27.3% | ||
El Dorado | $655,000 | $702,000 | $550,000 | -6.7% | 19.1% | -14.1% | -29.9% | ||
Humboldt | $413,000 | $420,000 | $349,000 | -1.7% | 18.3% | -7.8% | -13.4% | ||
Lake | $351,000 | $335,000 | $307,000 | 4.8% | 14.3% | -17.8% | -17.8% | ||
Mariposa | $382,000 | $409,700 | $425,000 | -6.8% | -10.1% | 11.1% | -13.0% | ||
Mendocino | $650,000 | $582,500 | $485,000 | 11.6% | 34.0% | -19.0% | -35.6% | ||
Mono | $805,000 | $822,500 | $669,500 | -2.1% | 20.2% | -27.8% | -35.0% | ||
Nevada | $570,000 | $566,000 | $500,000 | 0.7% | 14.0% | 7.9% | -10.3% | ||
Sutter | $405,000 | $395,000 | $350,000 | 2.5% | 15.7% | 14.9% | -3.8% | ||
Tuolumne | $395,000 | $413,820 | $325,000 | -4.5% | 21.5% | -5.5% | -1.6% | ||
Yolo | $587,990 | $616,000 | $505,000 | -4.5% | 16.4% | -19.0% | -24.6% | ||
Yuba | $420,000 | $430,100 | $343,750 | -2.3% | 22.2% | -6.4% | 18.6% |
July 2021 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)
July 2021 | Unsold Inventory Index | Median Time on Market | ||||||||
State/Region/County | July 2021 | June 2021 | July 2020 | July 2021 | June 2021 | July 2020 | ||||
Calif. Single-family homes | 1.9 | 1.7 | 2.1 | 8.0 | 8.0 | 17.0 | ||||
Calif. Condo/Townhomes | 1.7 | 1.6 | 2.7 | 9.0 | 8.0 | 19.0 | ||||
Los Angeles Metro Area | 1.9 | 1.7 | 2.3 | 8.0 | 8.0 | 19.0 | ||||
Central Coast | 2.0 | 1.9 | 2.5 | 9.0 | 8.0 | 19.0 | ||||
Central Valley | 1.9 | 1.6 | 1.8 | 7.0 | 7.0 | 12.0 | ||||
Far North | 2.6 | 2.3 | 2.7 | 12.0 | 11.0 | 28.0 | ||||
Inland Empire | 2.0 | 1.7 | 2.1 | 9.0 | 8.0 | 25.0 | ||||
San Francisco Bay Area | 1.5 | 1.4 | 1.8 | 10.0 | 9.0 | 17.0 | ||||
Southern California | 1.9 | 1.7 | 2.3 | 8.0 | 7.0 | 17.0 | ||||
San Francisco Bay Area | ||||||||||
Alameda | 1.4 | 1.3 | 1.6 | 9.0 | 8.0 | 12.0 | ||||
Contra Costa | 1.4 | 1.2 | 1.5 | 7.0 | 7.0 | 12.0 | ||||
Marin | 1.5 | 1.1 | 1.6 | 17.0 | 11.0 | 27.0 | ||||
Napa | 3.3 | 2.2 | 3.0 | 34.0 | 33.5 | 50.0 | ||||
San Francisco | 1.8 | 1.4 | 2.6 | 12.0 | 12.0 | 15.0 | ||||
San Mateo | 1.5 | 1.4 | 1.9 | 9.0 | 7.0 | 11.0 | ||||
Santa Clara | 1.3 | 1.3 | 1.8 | 8.0 | 8.0 | 10.0 | ||||
Solano | 1.3 | 1.2 | 1.7 | 24.0 | 21.0 | 29.0 | ||||
Sonoma | 2.1 | 1.9 | 2.4 | 33.0 | 31.0 | 46.0 | ||||
Southern California | ||||||||||
Los Angeles | 2.0 | 1.8 | 2.3 | 8.0 | 8.0 | 14.0 | ||||
Orange | 1.7 | 1.5 | 2.5 | 7.0 | 7.0 | 16.0 | ||||
Riverside | 1.8 | 1.7 | 2.2 | 8.0 | 8.0 | 22.0 | ||||
San Bernardino | 2.2 | 1.9 | 2.0 | 9.0 | 8.0 | 30.0 | ||||
San Diego | 1.7 | 1.5 | 1.9 | 7.0 | 6.0 | 10.0 | ||||
Ventura | 1.9 | 1.8 | 3.5 | 19.0 | 21.0 | 41.0 | ||||
Central Coast | ||||||||||
Monterey | 2.4 | 2.1 | 2.4 | 9.0 | 9.0 | 19.5 | ||||
San Luis Obispo | 2.0 | 1.8 | 3.0 | 7.0 | 6.0 | 22.0 | ||||
Santa Barbara | 1.7 | 2.0 | 2.6 | 9.0 | 9.0 | 25.0 | ||||
Santa Cruz | 2.1 | 1.7 | 2.0 | 11.0 | 9.0 | 14.0 | ||||
Central Valley | ||||||||||
Fresno | 2.1 | 1.7 | 2.0 | 6.0 | 6.0 | 11.0 | ||||
Glenn | 2.0 | 5.0 | 3.9 | 6.0 | 4.0 | 37.0 | ||||
Kern | 1.9 | 1.6 | 1.9 | 7.0 | 7.0 | 10.0 | ||||
Kings | 1.6 | 1.5 | 2.1 | 6.0 | 5.0 | 8.0 | ||||
Madera | 2.9 | 2.0 | 2.5 | 9.0 | 8.0 | 22.0 | ||||
Merced | 2.0 | 1.6 | 1.6 | 7.0 | 7.0 | 23.0 | ||||
Placer | 1.6 | 1.4 | 1.8 | 7.0 | 6.0 | 16.0 | ||||
Sacramento | 1.7 | 1.4 | 1.6 | 7.0 | 6.0 | 9.0 | ||||
San Benito | 2.3 | 1.8 | 2.1 | 10.0 | 8.0 | 30.0 | ||||
San Joaquin | 2.0 | 1.7 | 1.8 | 8.0 | 7.0 | 11.5 | ||||
Stanislaus | 1.9 | 1.7 | 1.7 | 7.0 | 7.0 | 12.0 | ||||
Tulare | 1.9 | 1.7 | 2.0 | 6.5 | 7.0 | 12.0 | ||||
Far North | ||||||||||
Butte | 1.6 | 1.9 | 2.0 | 7.5 | 6.0 | 10.0 | ||||
Lassen | 5.4 | 3.9 | 4.2 | 91.0 | 72.0 | 99.0 | ||||
Plumas | 4.5 | 4.0 | 5.3 | 60.0 | 63.0 | 76.0 | ||||
Shasta | 2.5 | 2.0 | 2.3 | 9.0 | 9.0 | 22.0 | ||||
Siskiyou | 3.5 | 2.5 | 3.7 | 9.5 | 7.5 | 32.0 | ||||
Tehama | 3.2 | 2.4 | 2.6 | 43.0 | 28.5 | 57.0 | ||||
Other Calif. Counties | ||||||||||
Amador | 2.7 | 2.4 | 3.4 | 9.0 | 11.0 | 43.0 | ||||
Calaveras | 2.8 | 2.1 | 2.2 | 49.0 | 49.0 | 63.0 | ||||
Del Norte | 3.4 | 3.3 | 6.9 | 84.0 | 92.5 | 117.0 | ||||
El Dorado | 2.2 | 1.8 | 2.0 | 10.0 | 9.0 | 33.0 | ||||
Humboldt | 2.2 | 2.1 | 2.5 | 9.0 | 8.5 | 23.0 | ||||
Lake | 4.0 | 3.0 | 3.6 | 17.5 | 12.0 | 36.0 | ||||
Mariposa | 3.7 | 3.8 | 4.4 | 7.0 | 7.5 | 36.0 | ||||
Mendocino | 4.7 | 3.4 | 4.0 | 22.0 | 36.0 | 62.0 | ||||
Mono | 4.7 | 3.9 | 5.4 | 58.0 | 57.5 | 61.5 | ||||
Nevada | 1.8 | 2.1 | 2.4 | 12.0 | 9.0 | 24.0 | ||||
Sutter | 2.0 | 2.4 | 1.3 | 8.0 | 8.0 | 11.0 | ||||
Tuolumne | 2.7 | 2.6 | 3.3 | 11.5 | 10.0 | 45.5 | ||||
Yolo | 1.8 | 1.2 | 1.8 | 8.0 | 7.0 | 13.0 | ||||
Yuba | 2.0 | 1.7 | 1.8 | 6.0 | 6.0 | 23.5 |
SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)
These press releases may also interest you
|