In August 2023, the median listing home price in Central Valley, CA was $299.9K, which was down 2% year-over-year. The median listing home price per square foot was $246, and the median home sold price was $313K.
Housing costs in Central Valley are 28% higher than the national average. The overall cost of living in Central Valley is 20% higher than the national average.
In California, home prices rose by 5 percent between August 2022 and August 2023. However, sellers in many counties are more likely to slash asking prices and see their homes remain longer on the market.
Here are some other California housing market trends:
- San Francisco and San Jose experienced the greatest price decline, falling 13% and 12.7%, respectively.
- Sacramento, San Diego, Los Angeles, and Riverside all experienced price declines between 8% and 12%.
- The Central Coast saw a sharp decline in prices (-3.6%) even though sales rose 1% from July’s volume.
Here’s some more information about the Central Valley real estate market:
- The median sold price for existing single-family homes in the Central Valley was $485,000 in August 2023. This was a slight decrease of 0.8% from the previous month, but a 3.2% increase from the previous year.
- Home sales in the Central Valley increased by 4% from the previous month, but decreased by 19% from the previous year.
- Tulare County saw the biggest monthly jump in sales activity, increasing by 24.8%. However, sales were down 7% annually.
- The median listing home price in California Valley was $799K in August 2023, which was up 30.4% from the previous year. The median listing home price per square foot was $402.