According to the California Association of Realtors, “the recent housing market landscape has been marked by fluctuations and last week’s development was no different. Mortgage rates saw a brief retreat last Friday after rising for three weeks due to factors such as the downgrade of the U.S. credit rating and the passing of the House tax bill. How long the declining trend will last, however, is not sure as uncertainty continues to linger on.”
On May 19, it was reported by CAR that although the California’s housing market reached a record high median price of $910,160 in April, that home sales on the other hand declined for the second time in four months, as economic uncertainty and elevated interest rates continued to beat down on housing sentiment. Additionally, price growth is declining all across the state. The labor market also showed resilience, with a slight decline in initial jobless claims, although continuing claims remained elevated. Builder confidence, on the other hand, took a hit in May, while small business optimism deteriorated further in April.
We are seeing price growth softening across all property types. Housing supply has been increasing in all counties. We are also seeing pending sales across all price segments decline. While Americans pull back on spending in April.
As far as affordability in the state, more home buyers have been priced out of the market. As the minimum qualifying income in Alameda County is $334,400/year. In San Mateo County the minimum qualifying income is $561,600/year and Santa Clara County $520,000/year. Rural counties such as Tuolumne County $100,400/year, Calaveras County $112,400/year.
As far as the median sales price throughout all the counties, Alameda County median sales price was down 2.1% on April from previous month and 3.6% decline from previous year. Though median sales price is $1,351,000, which it’s still above state’s median sales price.
Stanislaus County gained a 0.2% in median sales price from previous month and no gain or decrease from previous year. Median Sales price is at $485,000.
Tuolumne County had a 5.7% decline on median sales price price from previous month and a substantial 15.9% decline from April 2024. Median sales price in Tuolumne County as of April 2025 is $380,000.
Placer County did not have a gain or decline month to month but a very slight decrease of 1% from previous year. Median sales price is $665,000.
Santa Cruz County had a 8.9% decline in prices from previous month and a 10% decline from previous year. The current median sales price is $1,277,500.
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