Home prices in California generally move in only one direction: up. However, the latest data from the California Association of Realtors shows it’s anything but a straight line.
The median price of a single-family home in May was $900,170, approximately 1% lower than the median price of $908,000 in May 2024. This marked the first year-over-year decline in 23 months, the association said.
Condominiums and townhomes saw a sharper decline of $15,000, or 2.2%.
Experts say elevated mortgage rates continue to impact both prices and overall sales in California, which fell 4% year-over-year, according to the data. Homes are also staying on the market longer, with an average of 21 days — a 31.3% increase from the same time last year.
The data does vary by region. The Los Angeles metro area and Central Coast saw year-over-year increases in home prices of 1.8% and 6.2%, respectively, while the San Francisco Bay Area saw a decline of 3.8%.
Median home prices in California – May 2025
| Region/County | May-25 | May-24 | Price YTY% Chg | Sales YTY% Chg |
| Single Family Homes | $900,170 | $908,000 | -0.9% | -4.0% |
| Condo/Townhomes | $675,000 | $690,000 | -2.2% | -11.7% |
| Los Angeles Metropolitan Area | $855,000 | $840,000 | 1.8% | -8.3% |
| Central Coast | $1,125,000 | $1,059,000 | 6.2% | -8.4% |
| Central Valley | $510,000 | $507,080 | 0.6% | -5.2% |
| Far North | $385,000 | $400,000 | -3.8% | 0.5% |
| Inland Empire | $610,000 | $598,490 | 1.9% | -5.4% |
| S.F. Bay Area | $1,400,000 | $1,455,000 | -3.8% | -8.2% |
| Southern California | $888,000 | $880,000 | 0.9% | -7.6% |