CA Counties by Feb 2020 Median Home Price; OC nears $1M, San Mateo nears $2M (Los Angeles: rent, how much)

[18Montclair]

Everyone's leaving but prices keep climbing and homes are still selling. How odd.

CA Counties by February 2021 Median Home Price
$1,900,000 San Mateo
$1,786,400 San Francisco
$1,540,000 Marin
$1,486,250 Santa Clara
$1,435,000 Mono
$1,174,080 Santa Barbara
$1,100,000 Alameda
$1,058,000 Santa Cruz
$995,000 Orange
$931,500 Napa
$820,000 Monterey
$817,500 Contra Costa
$765,000 San Diego
$750,000 Ventura
$740,000 Sonoma
$700,000 San Benito
$700,000 San Luis Obispo
$664,120 Los Angeles
$599,500 Placer
$577,500 El Dorado
$525,000 Mendocino
$520,000 Yolo
$519,500 Riversie
$509,750 Solano
$463,000 Sacramento
$441,500 Calaveras
$436,300 San Joaquin
$406,280 Amador
$405,000 Stanislaus
$397,500 Mariposa
$397,000 Butte
$395,000 Sutter
$389,900 San Bernardino
$375,000 Tuolumne
$370,000 Yuba
$360,000 Humboldt
$359,000 Del Norte
$354,500 Madera
$350,000 Fresno
$329,950 Shasta
$329,500 Plumas
$326,500 Lake
$322,500 Siskiyou
$319,500 Glenn
$299,000 Tehama
$295,000 Kern
$288,500 Tulare
$280,000 Kings
$208,250 Lassen

https://www.car.org/en/aboutus/media...s/feb2021sales

[Racer46]

Originally Posted by 18Montclair

Everyone's leaving but prices keep climbing and homes are still selling. How odd.

CA Counties by February 2021 Median Home Price
$1,900,000 San Mateo
$1,786,400 San Francisco
$1,540,000 Marin
$1,486,250 Santa Clara
$1,435,000 Mono
$1,174,080 Santa Barbara
$1,100,000 Alameda
$1,058,000 Santa Cruz
$995,000 Orange
$931,500 Napa
$820,000 Monterey
$817,500 Contra Costa
$765,000 San Diego
$750,000 Ventura
$740,000 Sonoma
$700,000 San Benito
$700,000 San Luis Obispo
$664,120 Los Angeles
$599,500 Placer
$577,500 El Dorado
$525,000 Mendocino
$520,000 Yolo
$519,500 Riversie
$509,750 Solano
$463,000 Sacramento
$441,500 Calaveras
$436,300 San Joaquin
$406,280 Amador
$405,000 Stanislaus
$397,500 Mariposa
$397,000 Butte
$395,000 Sutter
$389,900 San Bernardino
$375,000 Tuolumne
$370,000 Yuba
$360,000 Humboldt
$359,000 Del Norte
$354,500 Madera
$350,000 Fresno
$329,950 Shasta
$329,500 Plumas
$326,500 Lake
$322,500 Siskiyou
$319,500 Glenn
$299,000 Tehama
$295,000 Kern
$288,500 Tulare
$280,000 Kings
$208,250 Lassen

https://www.car.org/en/aboutus/media...s/feb2021sales

People who work from home now and can afford a house away from the Bay area, foreign buyers and investment groups. Just see how many new homes are being bought and rented.

[dontbelievehim]

7.7 increase in fresno county
9.1 increase in madera county (from Jan to feb)
Sac had a modest percent increase. Still impressive to see.
Kern county actually saw a decrease in price!

Merced county is missing from the op(318k?)
Ultra rural glenn county is killing it, but for how long.

[ccm123]

Just insane, never would have expected such, especially during a pandemic. I’m sure the low interest rates were a factor.

[Bill the Butcher]

Originally Posted by dontbelievehim

Kern county actually saw a decrease in price!

As did Los Angeles, Ventura, Santa Cruz, Monterey and a couple other counties as well. Year over year they are all up including Kern.

[As Above So Below...]

Originally Posted by Racer46

People who work from home now and can afford a house away from the Bay area, foreign buyers and investment groups. Just see how many new homes are being bought and rented.

This. The Bay Area especially is headed for a Vancouver type scenario. Where you have so many foreign buyers that the gap between rent and buying is ridiculous. You have Americans leaving, but you have foreign buyers coming in.

[18Montclair]

Originally Posted by As Above So Below...

This. The Bay Area especially is headed for a Vancouver type scenario. Where you have so many foreign buyers that the gap between rent and buying is ridiculous. You have Americans leaving, but you have foreign buyers coming in.

no, this is pent up demand by locals who saved up coupled with low interest rates.
This recent article is titled: Project Home: ‘Perfect Storm’ Sparks Bidding Wars As Bay Area Housing Market Heats Up 1 Year Into Pandemic
https://sanfrancisco.cbslocal.com/20...into-pandemic/

[range extender]

California is the best

[roadwarrior101]

Originally Posted by As Above So Below...

This. The Bay Area especially is headed for a Vancouver type scenario. Where you have so many foreign buyers that the gap between rent and buying is ridiculous. You have Americans leaving, but you have foreign buyers coming in.

The difference is that the Bay Area has a real economy to support these ridiculous prices, whereas Vancouver is just speculation on offshoring money from Hong Kong expats. Whether people want to admit this or not, there are plenty of folks flush with cash who can afford these prices and the pandemic has only increased their wealth (mostly in the form of stock).

This doesn't change the fact that the Bay Area housing market remains out of reach for most and the wealth divide is only increasing. However, you cannot ignore how much wealth is being created here, especially in the tech sector.

[As Above So Below...]

Originally Posted by 18Montclair

no, this is pent up demand by locals who saved up coupled with low interest rates.
This recent article is titled: Project Home: ‘Perfect Storm’ Sparks Bidding Wars As Bay Area Housing Market Heats Up 1 Year Into Pandemic
https://sanfrancisco.cbslocal.com/20...into-pandemic/

Well, we know who is moving into the Bay Area and who is leaving. We know that they are getting tons of new residents from India and China and American born residents are declining. There is no way that isnt part of the equation.