SoCal Median Home Prices Slipped 6.2 Percent Annually In April

As we reported yesterday, California’s statewide existing-home sales fell 4.7 percent last month, with sales declining in all regions. For the six-county SoCal region, sales fell 7.8 percent from March and 37.4 percent compared to April 2022, according to the California Association of Realtors. 

But it was falling prices that piqued many interests. Even as the state’s median sale price rose 3 percent from March, SoCal, as a region, saw a pricing slowdown, up just 1.9 percent from the month prior.

On an annual basis, prices across Southern California were down 6.2 percent. San Bernardino had the largest month and annual price decline, down 5.3 percent and 9.1 percent, respectively. The median sale price in San Bernardino last month was $450,000.

Orange County posted the only $1 million-plus median sold price within the region last month, down 2 percent from March 2023 to $1,225,000. A year ago, the median sold price is the O.C. as $1,325,000.

L.A. County actually saw a price bump last month, with the median price coming in at $738,520—2.8 percent above March 2023. San Diego was also up some 1.6 percent monthly to $930,000, while Ventura County prices were up 4.3 percent to $885,500.