California residential property - statistics & facts

California is home to one of the biggest residential real estate markets in the United States. As a state that is famous for sunny weather, breathtaking natural surroundings, and a thriving economy, there is a high level of demand for housing; especially in the major metropolitan areas of Los Angeles, San Diego, and San Francisco. In fact, two Californian cities - San Francisco and San Jose - were among the cities where homes sold the fastest in the United States. However, California is also home to some of the most expensive housing markets in the world. Over of one third of active listings had a listing price of over one million U.S. dollars in March 2022.

Focus on San Francisco

San Francisco is nothing if not a city with character. For many it is still considered the capital of the counterculture movement of the 1960s as well as the LGBT capital of the United States. However, in recent years the iconic city has gained a reputation for being prohibitively expensive. Since 2000, house prices in the city increased more than threefold. Much of this increase can be attributed to the increase in housing demand with the explosive economic growth of Silicon Valley combined with the limited amount of physical space on the peninsula where San Francisco is located. The volume of homes sold in San Francisco has decreased from over 6,000 in 2015 to approximately 5,200 in 2020. If one prefers to rent an apartment in the San Francisco Bay Area, the median rent in cities such as Berkeley, Redwood City, and Mountain View can exceed 2,500 U.S. dollars per month.

The housing market in Los Angeles

Unlike San Francisco, which is constrained by the peninsula it is located on, Los Angeles is an enormous sprawling metropolitan area, consisting of Los Angeles proper and dozens of smaller cities blending into one another and spreading out across the desert of Southern California. The volume of homes sold in Los Angeles decreased from 81,900 to 71,300 between 2015 and 2020. While Los Angeles is not the most expensive Californian county, the sales price of existing housing was more expensive than many other counties.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Feb 29, 2024

Key insights

Number of home sales in California
439.2k
Sales to list price for single family homes in S.F. Bay area
112.2%
Average number of days it takes to sell a house in San Jose, CA
21
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