California housing market
Statewide listing data for September 2026, the latest month Realtor.com® Economic Research has published, with two years of history. Checked October 8, 2026.
California at a glance
WestSource: Realtor.com® Economic Research (California, September 2026). Asking prices and active listings, not closed sales.
What the data says
- There are 0.6% more homes for sale in California than a year ago.
- The median asking price is down 3.1% from a year ago.
- 19% of active listings have had at least one price reduction.
- The typical listing spends 55 days on the market, 4 days shorter than a year ago.
Repeat sales and appraisals of the same homes, published quarterly with a lag of about two months.
Two-year trend
Median listing price, California
| Period | Value |
|---|---|
| 2024-09-01 | $769K |
| 2024-10-01 | $757K |
| 2024-11-01 | $749K |
| 2024-12-01 | $715K |
| 2025-01-01 | $702K |
| 2025-02-01 | $729K |
| 2025-03-01 | $750K |
| 2025-04-01 | $767K |
| 2025-05-01 | $775K |
| 2025-06-01 | $772K |
| 2025-07-01 | $750K |
| 2025-08-01 | $750K |
| 2025-09-01 | $749K |
| 2025-10-01 | $741K |
| 2025-11-01 | $725K |
| 2025-12-01 | $700K |
| 2026-01-01 | $698K |
| 2026-02-01 | $708K |
| 2026-03-01 | $735K |
| 2026-04-01 | $749K |
| 2026-05-01 | $750K |
| 2026-06-01 | $749K |
| 2026-07-01 | $745K |
| 2026-08-01 | $730K |
| 2026-09-01 | $725K |
Homes for sale, California
| Period | Value |
|---|---|
| 2024-09-01 | 61K |
| 2024-10-01 | 62K |
| 2024-11-01 | 60K |
| 2024-12-01 | 50K |
| 2025-01-01 | 48K |
| 2025-02-01 | 52K |
| 2025-03-01 | 58K |
| 2025-04-01 | 65K |
| 2025-05-01 | 73K |
| 2025-06-01 | 77K |
| 2025-07-01 | 78K |
| 2025-08-01 | 77K |
| 2025-09-01 | 74K |
| 2025-10-01 | 71K |
| 2025-11-01 | 66K |
| 2025-12-01 | 56K |
| 2026-01-01 | 52K |
| 2026-02-01 | 55K |
| 2026-03-01 | 60K |
| 2026-04-01 | 66K |
| 2026-05-01 | 71K |
| 2026-06-01 | 72K |
| 2026-07-01 | 74K |
| 2026-08-01 | 74K |
| 2026-09-01 | 75K |
Listings follow a seasonal pattern each year; compare a month with the same month a year earlier.
California compared with the U.S.
Compare with another state| Measure | California | United States |
|---|---|---|
| Median listing price | $725,000 (−3.1% y/y) | $419,250 (−1.4% y/y) |
| Homes for sale | 74,607 (+0.6% y/y) | 1,161,615 (+5.4% y/y) |
| Median days on market | 55 days (−4 days y/y) | 61 days (Unchanged y/y) |
| Listings with a price cut | 18.6% (+1.6 pts y/y) | 20.8% (+0.9 pts y/y) |
| Median list price per sq ft | $456 (−1.0% y/y) | $223 (−1.7% y/y) |
Sources: Realtor.com® Economic Research (California, September 2026); Realtor.com® Economic Research (United States, September 2026). “y/y” is the change from the same month a year earlier.
An affordability illustration
Run your own numbersThe inputs
- Median listing price (September 2026)$725,000
- Down payment20% ($145,000)
- Loan amount$580,000
- Rate: 30-year fixed, national (Week of Oct 1, 2026)7.28%
- Median household income, California (2025)$100,800
This is an illustration, not a lender calculation. It leaves out property taxes, homeowners insurance, mortgage insurance and HOA dues, which can add several hundred dollars or more a month. The rate is a national average for strong-credit borrowers; your rate may differ.
Sources: Realtor.com® Economic Research (California, September 2026); Freddie Mac Primary Mortgage Market Survey, via FRED, Federal Reserve Bank of St. Louis (United States, Week of Oct 1, 2026); U.S. Census Bureau, Current Population Survey, via FRED, Federal Reserve Bank of St. Louis (California, 2025).
Editor’s notes on California
Written March 2026; conditions may have changedCalifornia's housing market defies economic gravity. Despite the highest prices in the continental US, demand consistently outpaces supply, driven by the world's most concentrated technology economy, persistent under-building, and strong long-term appreciation that turns homeownership into a generational wealth strategy. The Bay Area and coastal markets remain globally competitive for talent, while inland metros like Sacramento and the Central Valley offer relative affordability with improving infrastructure. Tech sector cycles create periodic dips that historically prove to be buying opportunities.
For buyers
All-cash or high down payment gives you a massive advantage, especially in Bay Area and coastal SoCal. If you're financing, work with a local lender who can close fast. Escalation clauses are common here.
For sellers
Preparation is everything. Staged, photographed professionally, and priced strategically at or slightly below comp, California homes regularly go 5–15% over asking. Don't leave money on the table with a rushed listing.
These notes are background written by our editors in March 2026, before the data above. Where they differ, the dated figures on this page are more current.