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.
The Bay Area as a whole had a pretty incredible month when it came to pricing, with every county reporting median sold price gains compared to January. Napa and San Francisco some the largest monthly increases at 17 and 16.6 percent, respectively. Napa’s median sold price finally surpassed the $1 million marker, coming in at $1,034,500, while San Francisco hit $1,900,000.
Elsewhere, Contra Costa saw a 12.8 percent month-over-month increase, hitting $935,000. That was followed by Marin, Alameda and Santa Clara, which hit 9 percent, 8 percent and 6.1 percent price gains in February.
San Mateo continued to have the highest median sold price, up 5 percent from January to hit $2,100,000.
Turning to other hot spots in NorCal, Sacramento and neighboring Placer County pushed saw their median sold price increase slightly from the month prior, with Placer coming in ahead at $675,000, compared to $541,500 in Sacramento.
Further north, El Dorado County saw its February median price jump 20.2 percent to $730,000, compared to $607,500 the month prior. And while Mono County saw a 4.5 percent monthly increase to $992,500, the rural county at the crest of the Sierra Nevada Mountains is still climbing back from a decent annual drop. Compared to February 2021, Mono’s median sold price is down 30.8 percent from $1,435,000.