Home price increases in California are beginning to moderate, a sign that our state’s housing market is heading toward a more balanced condition.

The median price for a single-family home in the state was $457,160 in June, a 2 percent decline from the preceding month, according to the California Association of Realtors’ latest home sales and price report. Although prices rose 6.6 percent from June 2013, the rate of annual appreciation was the lowest in quite some time.

“Home prices are finally increasing at a healthier pace, and the smallest year-over-year price gain in more than two years suggests that prices are stabilizing,” CAR Vice President and Chief Economist Leslie Appleton-Young said in a statement. “Last year’s frenzied market of multiple offers, which drove sales prices above listing prices, has tapered off as the sales-to-list price ratio has dropped to a more normal level at nearly 99 percent, which signals a return to a more balanced market.”

Share this:
Mark Danforth Lomas

Recent Posts

Curious California Real Estate Factoids for 2025

 March 19, 2025: Home sales are down in California, and prices are rising, with a…

5 days ago

Southern Santa Barbara Real Estate March Overview

Southern Santa Barbara, stretching from Carpinteria to Gaviota, offers a unique blend of coastal charm…

6 days ago

“Live” Santa Barbara Real Estate Statistics

The southern Santa Barbara's real estate market offers a fascinating glimpse into the dynamic interplay…

2 weeks ago

Southern Santa Barbara Real Estate Insights

In 2024 the southern Santa Barbara real estate market saw a 16% increase in inventory.…

1 month ago

Lights, Camera, Santa Barbara Film Festival!

The 40th Annual Santa Barbara International Film Festival is rolling out the red carpet Tuesday,…

2 months ago

Santa Barbara Real Estate Insights

The Santa Barbara real estate market in 2025 is quite dynamic and continues to attract…

2 months ago