Home Source: May 29, 2026

California median home price reaches record high

California Association of Realtors News release

SACRAMENTO — California home sales rose in April as the statewide median home price hit a new record, fueled by lower mortgage rates early in the month and strong market activity in higher-priced segments, the California Association of Realtors recently reported. Closed escrow sales of existing, single-family detached homes in California climbed 3.9% from March and increased 4.1% on a year-over-year basis. April’s annualized sales growth pace from last year represents the largest annual increase in seven months, according to

data collected by CAR from more than 90 local Realtor associations and MLSs statewide. This annualized figure reflects the number of homes that would be sold

in 2026 if April’s sales pace continued throughout the year, with adjustments made for typical seasonal patterns. The jump completely erased the cumulative sales losses

from the first three months of the year, leaving year-to-date sales essentially flat compared to 2025. However, overall sales remained below the 300,000 mark for the 43rd consecutive month.

“April’s year-over-year increase in home sales is a welcome sign that buyer demand remains resilient as we move deeper into the spring home buying season,” said CAR President Tamara Suminski, a Southern California broker and Realtor. “While elevated mortgage rates and ongoing uncertainty in the Middle East continue to weigh on the market, California buyers and sellers are still finding opportunities, and that speaks to the underlying strength of

housing demand.”

Driven by a shifting mix of sales toward high-end properties, the statewide median home price set a new record of $914,810 in April, a 2.9% monthly increase. April’s median home price also marks the third consecutive month of year-over-year growth and represents the first time the median price has crossed the $900,000 threshold since May 2025.

“The increase in the median price was driven in large part by the composition of sales, with a greater share of activity occurring in higher-priced segments of the market,” said CAR Senior n See HOME PRICE, page 3

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Vice President and Chief Economist Jordan Levine. “Nevertheless, housing affordability remains a significant challenge in California, particularly as the statewide median home price reached a new record high amid tight supply and continued competition in many markets.”

California home buyers remained the most active in the higher-priced sector in April. Homes priced at or above $2 million experienced the largest sales jump, increasing 8.4% from April 2025. New record highs in the stock market may have bolstered sales activity in the high-end segment last month, but mortgage-rate declines in the first half of April

likely motivated some buyers to close deals. Consumer sentiment surveys also suggest that home-buying expectations staged a mild comeback in April, possibly due to the temporary ceasefire in the Middle East and modest improvements in consumers’ perception of the job market.

Other key points from CAR’s April 2026 resale housing report include:

At the regional level, four of the five major regions in California recorded year-over-year sales gains on a nonseasonally adjusted basis. The Far North led the state with a 24.6% annual surge, while the San Francisco Bay Area posted a 5.5% increase. The Central Valley

edged up 1.6%, and Southern California was essentially flat at 0.1%.

The Central Coast was the only major region to drop, down 3% from April 2025.

At the county level, 31 of the 53 counties tracked by CAR recorded annual sales gains, with 17 posting double- or triple-digit increases. Siskiyou (152.9%), Mariposa (88.9%), and Tehama (48%) led the gains. Conversely, 20 counties saw declines, led by steep drops in Lassen (-76.2%) and Tulare (-44.8%).

Home prices across the regions posted mild annual growth rates.

The Central Coast registered the strongest growth pace at 3.2%, followed by the Far North (2%), Southern California (1.5%), and the Central Valley (1%). The San Francisco Bay Area was the lone region to experience an annual price decline, dipping 1.3%.

Thirty-four counties saw median home price gains, led by Mono (142.9%) and San Francisco (19.5%). Nineteen counties registered price drops, with Del Norte (-11.8%) and Amador (-10.8%) dropping the most. CAR notes these dramatic fluctuations are largely due to small transaction

sizes and shifting sales mixes rather than actual home-value depreciation.

Competition picked up slightly as the median time on market dropped to 21 days, down from 23 days in March and unchanged from April 2025.

The statewide salesprice-to-list-price ratio held firm at 100%, mirroring both last month and last year’s numbers.

The monthly average 30-year fixed-rate mortgage jumped to 6.33% in April, up from 6.18% in March, but down significantly from the 6.73% average recorded in April 2025.

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