California home sales reached their highest level since February, according to a new report from the California Association of Realtors released on November 18. The report showed that single-family home sales across the state hit 282,590 on a seasonally adjusted annualized basis in October. This represents a 1.9% increase from September’s figure of 277,410 and a 4.1% rise compared to October of last year.
Despite this growth, statewide sales have remained below the 300,000 mark for the thirty-seventh consecutive month. The median price for homes across California was $886,960 in October, up slightly by 0.4% from September but down by 0.2% compared to October 2024. Year-to-date sales saw an increase of 0.8%.
The report noted ongoing uncertainty regarding mortgage rates and the economy, which could influence buyer activity in the coming months.
“Mortgage rates, which briefly approached their 12-month low in October, have resumed an upward trajectory as the Federal Reserve took a more cautious approach during the government shutdown,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “With the market easing into its seasonal slowdown, housing demand will stay soft, and California is likely to close out 2025 with only a modest uptick in home sales over last year.”
In the Central Valley region, prices were stable but counties showed varied results in terms of sales performance.
Fresno County reported a median home price of $440,000 for October—down by 1.1% from September but up by 7.2% compared to October last year. Sales in Fresno County dropped by 0.6% month over month but increased by 6.5% compared to last year.
Kings County recorded the largest year-over-year jump in sales statewide at 52.9%, despite seeing a decrease of 5.1% from September’s numbers. The county’s median price was $357,500—a drop of 4.4% from September but up by 5.1% compared to last year.
Madera County’s median price rose to $459,000—an increase of 2% from September and up by nearly 5% over last year—while annual sales fell by almost six percent.
