The California Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in California

💡 Key California housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $786,938[1]#2 of 50 states113.2% higher
Median Listing Price $786,973[2]#3 of 50 states71.5% higher
Median Sale Price $905,800[3]#2 of 50 states110.3% higher
30 Year Mortgage Rate 7.00%[4]#24 of 50 states0.3% higher
Median Days on Market 33[5]#13 of 50 states20% shorter
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🗺️ Buying a house in the California real estate market

California has an affordability score of 11.5, meaning it takes 11.5 years of the median household income ($78,672) to afford California's median home sale price ($905,800). Because of this, we rank California as the least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $905,800[6]#2 of 50 states110.3% higher
30 Year Mortgage Rate 7.00%[7]#24 of 50 states0.3% higher
Median Household Income $78,672[8]#6 of 50 states21.9% higher
Affordability Ratio 11.5#50 of 50 states74.6% higher
Buyers Agent Commission 2.41%[9]#6 of 50 states9.9% lower
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Resources for California home buyers

🗺️ Selling a house in the California real estate market

According to our detailed survey of California real estate agents, listing agents (those representing the seller) charge an average commission in California of 2.69%, which is the 8th lowest in the United States. Buyers' agents charge an average commission of 2.41%, which is the 6th lowest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $786,973[10]#3 of 50 states71.5% higher
Median Sale Price $905,800[11]#2 of 50 states110.3% higher
Median Days on Market 33[12]#13 of 50 states20% shorter
Buyer's Agent Commission 2.41%[13]#6 of 50 states9.9% lower
Listing Agent Commission 2.69%[14]#8 of 50 states5.9% lower
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Resources for California home sellers

Moving to California

According to our recent moving trends survey[15], California is the 1st most desirable state to move to, with 32% of Americans indicating that they would choose to move there if money were no object. Likewise, 20% of survey respondents indicated that they would move to Los Angeles among a choice of America's largest cities, and 19% indicated that they would move to San Francisco. Among medium-sized cities, 12% indicated that they would move to Bakersfield, and 10% indicated that they would move to Fresno.

Here's how California cities rank in a number of our research studies.

StudyBest California cityRank
Best Pizza Cities[16]San Diego5th best
Best Coffee Cities[17]San Jose2nd best
Best LGBTQ Cities[18]San Franciscobest
Best Bike Cities[19]San Francisco2nd best
Best Commuter Cities[20]San Jose18th best
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated May 31, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[3] Redfin – "Redfin Data Center". Updated May 2024.
[4] Bankrate – "Bankrate". Updated July 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[6] Redfin – "Redfin Data Center". Updated May 2024.
[7] Bankrate – "Bankrate". Updated July 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated July 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[11] Redfin – "Redfin Data Center". Updated May 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated May 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated July 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated July 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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