Southern California set or matched price records for the first half of 2022. Here are some statistics which tell a story of the continuing interest in California real estate:
- Los Angeles County: the median price rose 8.1% to $860,230 in June
- Orange County: the median price rose 11.2% to $1,265,000 while sales decreased by 36.1% (the highest decline in sales of all 6 counties).
- Riverside County: the median price rose 12.2% to $645,000 while sales decreased by 27.4%.
- San Bernadino County: the median price rose 12.6% to $490,000 while sales decreased 27.5%
- San Diego County: the median price rose 9.8% to $950,000 while sales decreased by 30.5%
- Ventura County: the median price rose 10.7% to $930,000 while sales decreased by 22.6%
According to Zillow, the median home price in California is $800,172, and has risen an impressive 18.5% year-over year. California Homebuyers are still paying above listing price for homes, but they are paying less compared to what Buyers were paying last month and last year.
If you are one of the eager Homebuyers who have been competitively forced out of the market because you could not obtain your mortgage fast enough, consider a privately funded loan from Sun Pacific Mortgage. We have been known to have money available in as little as a week and offer the next best thing to an all-cash offer. Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com, we look forward to assisting you no matter where in California you are wanting to buy.