As is often the case, good news for homeowners in California is not encouraging for those shopping for a new place to live.
According to new data from the National Association of Realtors, two California cities were among the top ten metro areas with the largest year-over-year median home price increases through the fourth quarter of 2023.
Salinas saw single-family home prices climb by 17.1% to a median of $993,900. The Anaheim- Santa Ana-Irvine area saw prices rise by 14.8% to $1,299,500.
Dayton, Ohio, saw the largest increase in the U.S. (19.9%). But unlike most California metro areas, homebuyers in Dayton can expect to pay a median of just $240,700 for a single-family home, NAR said.
- Dayton, Ohio (19.9%)
- Kingsport-Bristol-Bristol, Tenn.-Va. (19.2%)
- Fond du Lac, Wis. (18.6%)
- Trenton, N.J. (17.3%)
- Salinas, Calif. (17.1%)
- Newark, N.J.-Pa. (16.7%)
- Anniston-Oxford, Ala. (15.7%)
- Bloomington, Ill. (15.4%)
- Johnson City, Tenn. (15.2%)
- Anaheim-Santa Ana-Irvine, Calif. (14.8%).
Nationwide, more than 85% of U.S. cities saw home prices increase year over year, and 34 saw prices climb by double digits. The median home price was $391,700, 3% higher than the Q4 2022.
Eight of the top 10 most expensive markets in the U.S. were in California.
- San Jose-Sunnyvale-Santa Clara, Calif. ($1,750,300; 11%)
- Anaheim-Santa Ana-Irvine, Calif. ($1,299,500; 14.8%)
- San Francisco-Oakland-Hayward, Calif. ($1,251,000; 4.3%)
- Urban Honolulu, Hawaii ($1,069,400; -1.9%)
- Salinas, Calif. ($993,900; 17.1%)
- San Diego-Carlsbad, Calif. ($931,600; 8.7%)
- Oxnard-Thousand Oaks-Ventura, Calif. ($916,800; 7.9%)
- San Luis Obispo-Paso Robles, Calif. ($912,100; 5.7%)
- Los Angeles-Long Beach-Glendale, Calif. ($884,400; 6.7%)
- Boulder, Colo. ($849,400; 11.8%).