Currently Reading

California Home Prices Jump to New Highs

Housing Markets

California Home Prices Jump to New Highs

The Golden State just got even pricier—here are the regions reporting the largest gains

January 3, 2022
California homes
Image: Stock.adobe.com

Overall home prices in the state of California far outpaced the national average in 2021 with increased demand in smaller metros like Riverside and Sacramento, The New York Times reports. In October, the median sale price of a single-family home in California rose 12.3% year-over-year to $798,440, more than twice the national median sale price of $353,900.

Though cities with less population density reported high demand and strong sales growth in 2021, major cities like Los Angeles also saw increased market activity along with luxury markets in affluent communities like Montecito. 

The real estate market in California mostly mirrored the national trends in 2021, with home prices increasing by double digits in the more affordable, outlying suburbs and in smaller metro areas like Riverside and Sacramento. In urban markets like San Francisco, the increases were more modest — at least by 2021 standards.

Sacramento was one of the most in-demand destinations for buyers seeking bigger homes at relatively affordable prices. The “typical” value of a single-family home there in 2021 was $472,000, according to Zillow’s estimate — up 22.3 percent from 2020, but still far less than the statewide average. “The area has newer and bigger homes than its coastal neighbor to the west,” [Jeff] Tucker said, referring to San Francisco. “That’s a good example we saw of the trend in a lot of the country.”

Read more


Related Stories

Market Data + Trends

Zillow’s 2022 Consumer Housing Trends Report Reveals New Challenges for Today’s Buyers

Buying a home looks a lot different today than it did prior to the COVID-19 pandemic, but despite new obstacles for today's buyers, some consumer trends have remained the same

Sales + Marketing Trends

Adapting Your Sales Strategy to Respond to Buyer Hesitation

A recent John Burns Real Estate Consulting consumer survey revealed that 66% of would-be buyers believe now is a bad time to invest. Here’s how builders, rental investors, and building products companies can keep them in the game

Smart Home

Smart Homes Enter the New-Home Mainstream

A new survey of home builders reveals a greater proliferation of connected home systems and devices across all price points nationwide


Top Articles


More in Category

COVID-19 may be easing its grip on the U.S. after a disastrous two years, but lingering supply chain disruptions have builders holding onto their pandemic business tactics

An archive of NHQA-winning companies that represent home building's best in Total Quality Management

Don’t let the current hype about single-family B2R communities obscure the need to create long-term sustainability and asset value


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.