By tf-lawyer.com According to the California Association of Realtors, recent statistics reveal that Trinity County boasts the lowest median price for single-family homes in California. As of September 2024, the state’s median home price stands at $868,150, a decline from $888,740 in August. However, this figure reflects a 2.9% increase compared to September 2023.
The association has observed a notable decrease in sales over the past several months, hitting a nine-month low. In a statement, they highlighted that uncertainty surrounding the economic outlook, coupled with a cautious approach towards fluctuating mortgage rates, has contributed to reduced buyer activity. As a result, sales figures have declined for two consecutive months, reaching their lowest point of the year.
The association emphasized that while mortgage rates are unpredictable, waiting may not be the best strategy for prospective buyers. On October 21, Zillow reported the 30-year mortgage rate in California at 6.28%.
With expectations that home prices may continue to decrease in the coming months, the association believes that a potential window of opportunity for buyers could be on the horizon.
Listing the counties with the lowest median home prices, they noted:
1. Trinity County: $274,500
2. Lassen County: $265,000
3. Siskiyou County: $290,000
4. Tehama County: $320,000
5. Mariposa County: $322,500
6. Lake County: $335,000
7. Glenn County: $348,000
8. Tuolumne County: $357,500
9. Del Norte County: $370,000
10. Shasta County: $374,500
Conversely, the five most expensive counties are:
1. San Mateo County: $2.1 million
2. Santa Clara County: $1,927,500
3. Marin County: $1.75 million
4. San Francisco: $1,625,000
5. Orange County: $1,397,450
Notably, the priciest homes in California are primarily located in the Bay Area, where residential sales prices surpassed $2 million in September, while the median price in Southern California was reported at $850,000.
