On a monthly basis, California’s existing-home sales experienced a pretty healthy boost last month, with sales up 17.6 percent in February. But how did NorCal stack up compared to the rest of the state?
According to the California Association of Realtors, the Bay Area saw sales jump some 15.5 percent on a monthly basis in February, while the Central Valley (which includes hotspots like Sacramento and Placer Counties) saw sales rise 24.6 percent.
Getting into county specifics, Marin existing-home sales leapt 105.4 percent compared to January 2023. Placer County sales were up 53.2 percent month-over-month, while Sacramento sales were up 27.1 percent and Fresno sales were up 25.9 percent.
On an annual basis, all Bay Area and Central Valley counties experienced double-digit sales declines, demonstrating the overall market slowdown.
Said regions also experienced some of the largest sale price declines in February. According to CAR, with prices sliding more than 13 percent in six Bay Area counties, the Bay Area’s regional median price was down 19.2 percent from a year ago and the dip in February was the largest price decline since June 2009.
Prices managed to increase in some areas, though, including the aforementioned Marin County (up 20.5 percent compared to the month prior) and San Mateo County (up 28 percent). Neighboring Santa Cruz County saw prices rise 2.6 percent month-over-month, while Yolo County experienced a 5.3 percent price boost.
For more on our SoCal sales and pricing report, click here.