A total of 277,410 closed escrow sales of existing, single-family detached homes was recorded in California in September, a 5% jump from the 264,240 homes sold in August and a 6.6% spike from the 260,340 homes sold in September 2024.
According to the California Association of Realtors (CAR), this represents the first time in six months that home sales posted a year-over-year upswing. However, it was also the 36th straight month in which the seasonally adjusted sales rate remained below the 300,000 benchmark.
In September, California’s median home price fell 1.7% to $883,640, down from $899,130 in August – the lowest month-over-month decline in seven months. The median price was also 1.8% higher than the $868,150 recorded one year ago.
The median number of days it took to sell a California single-family home was 32 days in September, up from 24 days one year earlier.
“The housing market showed modest improvement in September, with both sales and prices up from a year ago,” said CAR Senior Vice President and Chief Economist Jordan Levine. “Steady mortgage rates may give demand a small boost heading into the fourth quarter, but broader economic uncertainty—like the ongoing government shutdown and renewed US-China trade tensions—will likely keep the recovery gradual.”
