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California median home price hits $800K in April

Heated market conditions and a shortage of homes for sale continued to put upward pressure on California home prices, driving the state's median price above the $800,000 benchmark for the first time ever in April, as home sales soared from last year's pandemic-level lows.

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– Existing, single-family home sales totaled 458,170 in April on a seasonally adjusted annualized rate, up 2.6 percent from March and up 65.1 percent from April 2020.

– April’s statewide median home price was $813,980, up 7.2 percent from March and up 34.2 percent from April 2020.

– Year-to-date statewide home sales were up 26.2 percent in April. Heated market conditions and a shortage of homes for sale continued to put upward pressure on home prices in California, driving the state’s median price above the $800,000 benchmark for the first time ever in April, as home sales soared from last year’s pandemic-level lows, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. 

Infographic: https://www.car.org/marketing/clients/infographics/April%202021%20Sales%20and%20Price

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