California’s median home price may have set another record in May at $898,980, 1.6 percent higher than the April median price, but on a local level, many NorCal counties finally began to see prices retreat from months of growth.
According to new data from the California Association of Realtors, the median sold price for existing-home transactions in May dropped across the Bay Area, down 2.3 percent to $1,505,000, as a region. San Mateo saw the largest month-over-month decline, falling 7.1 percent to a median price of $2,231,500.
San Francisco’s median price was down 2.1 percent to $2,015,000 in May, while Santa Clara was down 2.2 percent to $1,927,500.
Napa and Alameda were the only Bay Area counties to see monthly price increases, up 2.1 percent and 3 percent respectively. May’s median sale price in Napa hit $1,048,500, while Alameda saw its median price rise to $1,545,000.
Elsewhere, Sacramento and neighboring Placer County saw median price increases as well. May’s sale price average hit $580,000 in the capital county last month, while Place reached $735,000.
For more on Southern California’s numbers, click here.