California’s February home sales may have been down slightly last month, but prices across the Golden State were largely on the up and up. At the regional level, all major regions except the Central Valley recorded a decrease in sales on a year-over-year basis. The Bay Area and Southern California each experienced a double-digit or a near double-digit sales loss of 13.7 percent and 9.9 percent, respectively, in February.
According to the California Association of Realtors, last month’s statewide median home price was $771,270, up 0.7 percent from January and up 10.3 percent from February 2021.
Locally, most of SoCal saw moderate gains—with the exception of Los Angeles.
L.A.’s media sold price was $773,490, down 3.4 percent from $800,960 in January 2022. Year-over-year, however, L.A.’s median price increased 12.6 percent from $686,760.
Orange County saw the largest monthly increase, up 5.4 percent to $1,260,000. Annually, Orange County’s median price was up 26.6 percent from $995,000.
San Diego had the second-highest median sales price at $888,000, up 1.5 percent from January. Ventura was close behind at $887,500 (up 4.4 percent) and Riverside at $605,030 (up 2.5 percent).
San Bernardino’s median price was static month-over-month, sitting at $450,000.