As California, including Southern California, enters the peak spring homebuying season, home sales in Southern California have shown a year-over-year increase. Home prices across California, including Southern California, have also continued their upward trend compared to the previous year.

According to the California Association of Realtors (CAR) "April Housing Sales and Price Trends Monthly Report" released on May 20, the seasonally adjusted annualized rate of single-family home sales in California last April was 267,710 units, a 3.4% decrease from 277,030 units in the previous month, and a slight 0.2% decrease from 268,170 units in April of the previous year. However, year-to-date sales from January to April 2025 were up 1.4% compared to the same period last year.

In April, 33 out of 53 Southern California counties reported year-over-year sales increases, with 17 of those counties seeing double-digit growth. Conversely, 19 counties experienced a decline in sales compared to the previous year. Due to persistently low inventory relative to demand, monthly sales in California have remained below 300,000 units for 31 consecutive months since September 2022, including April 2025.
The median price of single-family homes sold in California in April was $910,160, a 0.7% increase from $904,010 in April of the previous year, and a 2.9% rise from $884,350 in the prior month. This marks 22 consecutive months of year-over-year price increases for single-family homes. The median price has exceeded $800,000 for 24 of the past 25 months, reflecting a sustained high-price trend. [See Chart]
The median sales price for condos in California in April was $670,000, down 2.6% from $688,000 in April of the previous year and 1.6% from $680,630 in the prior month. Condo sales in April increased 5.2% from the previous month but decreased 2.2% compared to the same period last year.

CAR Chief Economist Jordan Levine noted, “The slight decline in mortgage rates and a slowdown in price growth in April during the spring buying season were positive for buyers. However, inventory remains significantly lower than pre-COVID-19 levels in 2020, making homebuying still challenging.” The average interest rate for a 30-year fixed mortgage in April was 6.73%, down 0.26 percentage points from 6.99% a year earlier.
The Southern California housing market also saw overall increases in both sales prices and volume in April, though the pace of growth slowed. The median home sales price in Southern California in April was $887,000, up 0.8% from $880,000 in April of the previous year and 1.8% from $877,750 in the prior month. Home sales volume in Southern California in April rose 11.1% from the previous month and 1.6% from the same period last year.
By county in Southern California, the median home sales price in Los Angeles County in April was $850,270, a 2.9% increase from $825,970 in April of the previous year and a 2.5% rise from $829,260 in the prior month. LA County home sales volume in April increased 12.9% from the previous month but decreased 2.6% compared to the same period last year.
Orange County recorded the highest median sales price among Southern California counties in April at $1,417,450, though this was down 1.6% from $1,440,000 in April of the previous year and 2.2% from $1,450,000 in the prior month. OC sales volume in April rose 6.1% from the previous month but fell 4.1% compared to the same period last year.
Ventura and Riverside counties saw their April median sales prices increase by 0.5% year-over-year, while San Diego County saw a 3.1% decrease, and San Bernardino County a 0.1% drop. Month-over-month sales volume in April increased by 22.5% in San Diego County, 12.7% in San Bernardino County, 0.5% in Riverside County, and 0.3% in Ventura County, though the pace of growth slowed.

CAR President Heather Ozur stated, “The California housing market is structured in a way that prices are bound to rise due to high demand and a lack of inventory. A further decline in mortgage rates is necessary for the California housing market to regain momentum.”
Reporter Jo Hwan-dong