As we make our way into the second half of the year, The Orange County Register has created a list of 6 facts about the state’s housing market to keep in mind.
For example, prices are continuing to rise, and the median selling price of a California home increased 6.3 percent and currently sits at a nine-year high of $441,250. San Mateo County has reached the highest median price for any county in the country, at $1.27 million.
The next thing to keep in mind about California’s housing market is that even with high prices, many buyers are still paying up. In June, 35 percent of homes sold above asking price and 72 percent of homes that were sold drew multiple offers.
A decrease in total sales, a slowing of cash buyers, an overall solid housing market, and a bright outlook are the other four facts rounding out the list. For the complete breakdown of each trend, follow the link below.