California real estate trends (May 2022)
How is the real estate market in California?
🏠 Average home value: $760,644
📈 -0.48% home value decrease month over month
💰 Median sale price: $882,400
⏳ 37 days on the market
🔑 Homes on the market: 58,610
📆 2.3 months of housing inventory
🏦 30-year mortgage rate: 5.52000%
💵 Average income: 78672
State of the market: A-
Prime properties in California are still desirable and sell quickly. With low inventory, fast sales, and high sales prices, this market will stay hot.
*Data last updated May 2022
From Hollywood to Silicon Valley, California is home to some of the nation's most iconic and innovative industries. It's a popular destination for anyone who dreams of working in entertainment or technology.
But the Golden State isn't all glitz and glam — it's also a major agricultural region that produces much of the nation's almonds, strawberries, apricots, and more. Its Mediterranean climate provides comfortable temperatures year-round and nurtures the vineyards that supply Napa Valley's award-winning wineries.
Whether you're drawn to San Francisco's hills or San Diego's beaches, California offers endless opportunities for adventure.
If you're thinking of buying or selling in California, these California housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in California
California real estate market forecast for sellers
⏰ Homes are selling 12 days slower than the annual average
💰 Homes are selling for $17,141 less than the annual average
💸 Average listing commission: 2.50%
💸 Average buyer's commission: 2.41%
How to sell a home in California
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in California (June 2021 Rankings)
- 8 Steps to Selling a House in California
- How to Sell a House By Owner in California (2021 Update)
- 5 Best California Flat-Fee MLS Companies in 2021
- We Buy Houses for Cash Companies in California (2021 Rankings)
Cost to sell a home in California
- The Average California Real Estate Commission (2021)
- California Seller Closing Costs in 2021: How Much Will You Pay?
- The Ultimate Guide to California Real Estate Taxes
Buying a home in California
How much home you can buy with $300,000 in...
🏠 Los Angeles: 503 sq ft
🏡 San Diego: 545 sq ft
🏡 San Francisco: 418 sq ft
🏠 Riverside: 946 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in California
- The 5 Most Affordable Places to Live In California
- The Best Time to Buy a House in California
- Rent vs. Buy in California: Which Is Right for You?
Investing in California real estate
- Top 5 Best Real Estate Investment Markets in California
- How to Buy a Foreclosed Home in California
- The Ultimate Guide to Flipping Houses in California
- A Beginner's Guide to Buying an Apartment Building
Best of California
💡 Did you know…
Research from the Clever Data Center showed that full-time musicians in San Francisco earn more than musicians in 94% of other U.S. cities. The city also offers a unique array of smaller venues to support local musicians and cater to frequent concert goers.
» Taking notes? 🎵 Learn more about the rankings here: The Best Music Cities in the U.S.
The city also ranks #1 for caffeinated affordability, with the average Bay Area resident only spending about 1% of their annual income for their daily cup of coffee.
» Thirsty for more info? ☕ Read our full study here: The Best Coffee Cities in America
Each month, we compare locations in California based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.
Happiest Counties in California
1. San Mateo County
2. Santa Clara County
3. Mono County
4. San Francisco County
5. Marin County
Worst of California
Each month, we compare locations in California based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.
Least Happy Counties in California
1. Imperial County
2. Tulare County
3. Fresno County
4. Merced County
5. Tehama County
- California Department of Real Estate
- California's real estate license verification
- California's real estate agent code of conduct
- California's disclosure forms
- Transfer taxes in California
- Home buying assistance programs in California
Frequently asked questions about California real estate
It's currently a seller’s market in California. Demand is very high driving up listing prices and shortening the amount of time properties spend on the market. However, the state of the market in each city and town is different, which is why it’s a must to speak with a local real estate agent to understand trends in your area.
Investing in California real estate, especially in cities like Los Angeles and San Diego, is a good move, since the demand for housing is always high. However, making the most out of your investment requires proper preparation, like knowing which neighborhoods to buy housing in and having a plan on how to manage the property. Learn more in our guide to real estate investing.
It is not the best time to purchase a house in California. Demand is high, so average listing prices are higher than average and options are slim. However, mortgage rates are currently low, meaning you can snag a deal if you find the right house and lock in a low rate. To have the easiest time in navigating your local market, it’s best to work with a top real estate agent.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.