Predicting a 14% surge in home sales for the year ahead…
Reviewing some of the later reports from the California Association of REALTORS® (C.A.R.), it’s clear we’re in a market that requires both patience and strategy. As of November, the median home price in California has leveled out at $852,680. While that is a significant number, the fact that prices have stayed flat year-over-year is actually a bit of a breather for those of us watching the market closely.
Right now, things are moving at a steadier pace. Homes are staying on the market for an average of 32 days. That is about a 23% jump from last year, meaning buyers finally have a little more time to breathe and do their due diligence before signing on the dotted line.
We’re also seeing some relief in borrowing costs. The 30-year fixed mortgage rate recently dipped to 6.24%. It’s a small move, but combined with a slight drop in the price per square foot to $423, it’s a positive sign for affordability.
As we moved into December, our daily rhythm showed about 481 homes closing and 482 new listings hitting the market. While escrow activity dipped slightly recently, my fellow REALTORS® are optimistic about the weeks ahead. In fact, nearly 29% of agents expect to see a surge in new listings very soon.
At Morgen Real Estate, we believe in making these complex numbers simple. Data is just a tool; the real goal is helping you find a place that feels like home. If you’re curious about how these statewide trends affect your neighborhood, let’s grab a cup of tea or coffee and talk about your goals for 2026.
Source: California Association of REALTORS®