NorCal Counties Post Sales And Price Declines In June Numbers

Following yesterday’s news that California’s existing-home sales fell 8.4 percent in from May to June, we’re taking a closer look at the NorCal landscape. 

At the regional level, all major regions experienced double-digit sales declines from last year, with three of the five regions falling by more than 25 percent on a year-over-year basis, according to the California Association of Realtors. The San Francisco Bay Area had the second largest drop of all regions, with sales falling 26.8 percent compared to June 2021. 

The Central Coast, Central Valley and the Far North were all also down by 26.3 percent, 19.6 percent and 18.5 percent, respectively. 

Median sale prices were largely down across the Bay Area, with Marin County posting a 14.1 percent decline. The average sold price in Marin fell from $2,100,305 in May 2022 to 1,800,000 in June. San Francisco County also fell from the $2 million-plus median sale price, down 5.7 percent to $1,900,000.

Elsewhere, San Mateo County’s median sale price fell 3.4 percent to $2,155,000 in June. Further north, Sacramento’s average sold price dropped 3.4 percent to

$560,000. Neighboring Placer County was down just 2 percent to $720,000.

On the plus side, the overall supply conditions throughout the state improved again in June, with the statewide unsold inventory index rising to the highest level in two years. According to CAR, total active listings surged 64.4 percent in June, the largest year-over-year growth in more than seven years.

To see what numbers SoCal posted last month, check out our coverage by clicking here.