10 Statistics About The California Real Estate Market in 2021
As we continue to see home prices rise, many people are asking the inevitable question: “Will the real estate market crash or boom?” Unfortunately, the answer to that question is still up in the air.
If you’re thinking about buying or selling a home in California in 2021, you can never be too knowledgeable about real estate market trends to help you make the best decision. Take a look at these statistics about the real estate market in California in 2021!
Real estate jobs statewide are at 99% recovery since the pandemic. In fact, three real estate job categories – architectural/engineering, construction of buildings, and building material stores, have more workers than they did in February 2020. (OC Register)
In the last three months of 2020, 36,000 people left San Francisco; 126,679 left Los Angeles, and 49,928 left San Diego. (New York Times)
In April 2021, the median sales price for a single-family home in San Francisco County was $1,800,000. (New York Times)
In April 2021, the median days on the market for homes in California was only 7. In the Bay Area, it was 8. (California Association of Realtors)
Between April 2020 and April 2021, the median sales price for homes in California increased 34.2%. That’s the strongest price growth ever recorded. (CAR)
Low mortgage rates are fueling bidding wars, and homes are selling quickly with minimal price reduction. As of April 2021 in California, the sales-to-list-price ratio was 103.3%, which means homes are selling above the listing price. (CAR)
Six of California’s major cities landed in Realtor.com’s March 2021 Top 20 Hot Housing Markets Report. (Realtor.com)
Since 2012, the California home values have appreciated by nearly 114%. (Zillow Home Value Index)
The California median home price is forecasted to increase 8% in 2021, following an 11.3% increase in 2020. (CAR)
In all of California, the San Francisco Bay Area had the highest year-over-year sales price increase at 101.4%. (CAR)
