The median price of an existing house rose to $387,000 in July, a one and a half percent bump from June. That caps a 20% appreciation in the last 12 months. The statewide increase has been 17% over the past year … to a median home price in California of $541,000.
Prices may be rising, but sales are slowing … down 12% from July of last year, and June was also a down month.
West Sacramento has one of the state’s white-hot markets for home sale. The median price for an existing house has soared 49% since June of last year.