As we reported yesterday, California’s existing home sales and median sale prices were all up in March, according to new numbers out from the California Association of Realtors. Now, we’re diving into the regional data and getting a better sense of prices across the Southland.
At the regional level, home prices in all major California regions continued to surge from last year by double-digits, with four reaching new record highs in March. According to CAR, the Central Coast region recorded the highest year-over-year price growth with a 20.4 percent increase, followed by the Central Valley at 19.3 percent, the San Francisco Bay Area at 17.9 percent, Southern California at 13.8 percent and the Far North 12.9 percent. The Far North was the only region that did not set a new median high in March.
In NorCal, Marin saw the largest month-over-month sale price increase, hitting $1,737,500—up 10 percent from February 2022. San Mateo and San Francisco followed closely behind with 8.6 percent and 8.4 percent increases.
San Mateo had the highest median sale price last month at $2,280,000.
Napa and Solano were the two Bay Area counties that saw price decreases last month, with Napa dropping 3.5 percent to $998,000. Solano’s median sale price fell to $604,000, down .2 percent from February.
Elsewhere, Sacramento’s median sale price was up 3.4 percent to $560,000. Neighboring Placer County saw prices increase by 4 percent to $701,730 in March.
El Dorado County’s median sale price reached $750,000, up 2.7 percent monthly and nearly 15 percent year-over-year.
To see how SoCal numbers looked last month, click here.