California: January 2021, Sales and Price Report

Market Report provided by California Association of Realtors

After hitting a record high price the previous month, California’s median home price dipped below the$700,000 benchmark in January. The statewide median home price declined 2.5 percent on a month-to-month basis to $699,890 in January, down from December’s $717,930. Low rates and tight supply continued to push up home prices on a year-over-year basis, gaining 21.7 percent from the $575,160 recorded last January. The double-digit increase from last year was the sixth in a row and the largest since February 2014.