YOUR HOME: AN EVEN MORE VALUABLE ASSET
the median price is $2.28 million, the highest in the state, up from $1.985 million a year ago.
By Jondi Gumz
Homes sold over asking price – 103.9% statewide, up from 102.2% a year ago. The average price per foot for a single-family home topped $400 for the first time, according to the California Association of Realtors, $418, up from $357 a year ago. Median time on the market is eight days statewide for single-family homes, seven days for condos and townhomes.
The figures come from the California Association of Realtors, which reports the trends are the same statewide: Prices up, sales down. The median price statewide for single-family homes is $849,080, an alltime high and up from $758,990 a year ago; sales are down 4%.
Infographic courtesy of the California Association of Realtors.
At the county level, prices increased across the state, with 25 counties setting new record highs in March. Out of 51 counties tracked by California Association of Realtors, 46 saw increases in their median price in March. The next largest increase after Santa Cruz County was Tehama, 34%, and Tuolumne, 31%. For condos and townhomes, the median price statewide is $661,000, up from $552,500 a year ago and sales are down 11%.
Home prices in Santa Cruz County skyrocketed in March to a new record median price – $1.6 million, up 46% from a year ago – as sales dropped by 7%. The median, the midpoint of what sold, was $1.1 million in March 2021. While these prices are stratospheric, they look reasonable compared to neighboring Santa Clara County, home to highpaying jobs in Silicon Valley, where the median is $1.95 million, up from $1.6 million a year ago. To the north, in San Mateo County, 26 | Coastal Home & Garden | Spring/Summer 2022
In Santa Cruz County, homes are selling in nine days, down from 11 days a year ago. Locally, homes have been in demand as Silicon Valley tech employees, working from home due to the pandemic,
