CoreLogic Inc.
12/17/2024 | Press release | Distributed by Public on 12/17/2024 11:04
CoreLogic: California Home Sales Increased After Historically Slow ...
IRVINE, Calif., December 17, 2024- CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released monthly residential California home sales numbers for October 2024. The report includes data for new and resale single-family homes and resale condominiums for six counties in Southern California and eight counties in Northern California, excluding Alameda.
The data shows an increase in both median price and volume in Southern California and Northern California.
"California's housing market is finally showing signs of thawing after last year's historic slowdown. However, home sales remain at just half the pace of the pre-pandemic decade. This gradual increase in for-sale inventory has been crucial in re-energizing market activity, offering buyers more options, easing bidding wars, and tempering the rapid home price appreciation seen earlier this year. Additionally, last summer's dip in mortgage rates provided a brief window of opportunity, motivating some hesitant buyers to reenter the market," said Dr. Selma Hepp, chief Economist for CoreLogic.
Southern California Takeaways:
- The median sales price for all tracked properties was $775,000 in October, a year-over-year increase of 5.4% for the region. All six counties in the region posted year-over-year home price gains: Orange (6%), San Diego (7%), Riverside (5.4%), San Bernardino (6.1%), Los Angeles (5%), Ventura (.7%) and Riverside (5.4%).
- Orange County again posted the highest median sales price, at $1.15 million, followed by San Diego ($879,000), Los Angeles ($875,000), Ventura ($830,000), Riverside ($585,000) and San Bernardino ($525,000) counties.
- Home sales volume increased by 10.1% from October 2023, with five of six counties posting annual gains: Ventura (32%), Los Angeles (15.3%), Riverside (11%), San Diego (9.6%) and Orange (4.7%).
- San Bernardino County posted the region's only sales volume loss in October, at -1.6%.
Northern California Takeaways:
- The median sales price for all tracked properties was $1,125,000 in October, a year-over-year increase of 7.3% for the region. Seven of the nine counties in the region posted year-over-year home price gains: San Francisco (9.8%), Santa Clara (9.5%), Contra Costa (7.7%), Marin (7.1%), San Mateo (1.9%), Napa (1.8%) and Sonoma (0.7%).
- Solano posted the region's only home price loss at 2.4%.
- Santa Clara and San Mateo posted the highest median sales price, at $1.62 million, followed by Marin ($1.5 million), San Francisco ($1.45 million), Napa ($850,000), Contra Costa ($826,000), Sonoma ($765,000) and Solano ($600,000).
- Northern California home sales volume increased by 12% from October 2023, with seven of eight counties posting annual gains: San Francisco (23%), San Mateo (17.6%), Sonoma (17.5%), Santa Clara (16.7%), Marin (12.6%), Contra Costa (5.8%) and Solano (2.1%).
- Napa County posted the region's only sales volume loss in October, at -14.4%
- October's data is unavailable for Alameda County.
For ongoing housing trends and data, visit the CoreLogic Intelligence blog.
Southern California Data Home Prices:
| County | Median Sales Price October 2023 | Median Sales Price October 2024 | Year-Over-Year Change |
| Los Angeles | $833,500 | $875,000 | 5.0% |
| Orange | $1,085,000 | $1,150,000 | 6.0% |
| Riverside | $555,000 | $585,000 | 5.4% |
| San Bernardino | $495,000 | $525,000 | 6.1% |
| San Diego | $821,250 | $879,000 | 7.0% |
| Ventura | $824,000 | $830,000 | 0.7% |
| Southern California Total | $735,000 | $775,000 | 5.4% |
Southern California Data Home Sales:
| County | Home Sales Volume October 2023 | Home Sales Volume October 2024 | Year-Over-Year Change |
| Los Angeles | 4,249 | 4,899 | 15.3% |
| Orange | 1,904 | 1,994 | 4.7% |
| Riverside | 2,530 | 2,808 | 11.0% |
| San Bernardino | 1,976 | 1,945 | -1.6% |
| San Diego | 2,164 | 2,372 | 9.6% |
| Ventura | 488 | 644 | 32.0% |
| Southern California Total | 13,311 | 14,662 |
Northern California Data Home Prices:
| County | Median Sales Price October 2023 | Median Sales Price October 2024 | Year-Over-Year Change |
| Alameda | $1,051,500 | $875,000 | 5.0% |
| Santa Clara | $1,480,000 | $1,150,000 | 6.0% |
| San Mateo | $1,585,000 | $585,000 | 5.4% |
| Marin | $1,400,000 | $525,000 | 6.1% |
| San Francisco | $1,320,000 | $879,000 | 7.0% |
| Napa | $835,000 | $830,000 | 0.7% |
| Contra Costa | $767,000 | $775,000 | 5.4% |
| Sonoma | $760,000 | $765,000 | 0.7% |
| Solano | $615,000 | $600,000 | -2.4% |
| Northern California Total | $1,048,500 | $1,125,000 | 7.3% |
Northern California Data Home Sales:
| County | Median Sales Volume October 2023 | Median Sales Volume October 2024 | Year-Over-Year Change |
| Alameda | 978 | N/A | N/A |
| Santa Clara | 977 | 1,034 | 5.8% |
| San Mateo | 238 | 268 | 12.6% |
| Marin | 111 | 95 | -14.4% |
| San Francisco | 425 | 522 | 22.8% |
| Napa | 437 | 514 | 17.6% |
| Contra Costa | 1,034 | 1,207 | 16.7% |
| Sonoma | 381 | 389 | 2.1% |
| Solano | 428 | 503 | 17.5% |
| Northern California Total (not including Alameda) | 4031 | 4660 | 12% |
Note: Data in this release is taken from county records and not from local multiple listing services.
Source: CoreLogic
About CoreLogic
CoreLogic is a leading provider of property insights and innovative solutions, working to transform the property industry by putting people first. Using its network, scale, connectivity and technology, CoreLogic delivers faster, smarter, more human-centered experiences that build better relationships, strengthen businesses and ultimately create a more resilient society. For more information, please visit www.corelogic.com.
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Media Contact
Robin Wachner
CoreLogic
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