In September, home prices in California saw a increased of 3.5% compared to the previous year. Meanwhile, home sales increased by 17.6% , and the number of homes for sale rose by 24.6%.
In September 2024, home prices in California increased by 3.5% compared to the previous year, with a median sale price of $813,000. The number of homes sold increased by 17.6% year-over-year, with 25,573 homes sold in 2024, compared to 21,743 in 2023. Additionally, the median time a home stayed on the market increased by 17.8%, reaching 33 days.
$813,000 | YOY growth 3.5%
25,573 | YOY growth 17.6%
33 | YOY growth 17.8%
Historical Median Price for past 24 months
1,917 investment Property
578 investment Property
350 investment Property
342 investment Property
5. Hemet, CA
256 investment Property
251 investment Property
7. Corona, CA
243 investment Property
8. Menifee, CA
222 investment Property
217 investment Property
10. Palmdale, CA
188 investment Property
In September 2024, California had 99,650 homes for sale, representing a 24.6% increased compared to the previous year. The number of newly listed homes was 30,545 and up 8% year over year. The average months of supply is 2.7 months, up 8% year over year.
99,650 | YOY growth 24.6%
30,545 | YOY growth 8%
2.7 | YOY growth 8%
Historical # of Homes for Sale for past 24 months
Market | Mashmeter Score | Optimal Strategy | Median Price |
---|---|---|---|
Alameda, Cathedral City, CA | A+ | Short-term | 455,000 |
Columbia, CA | A | Short-term | 674,000 |
Chester, CA | A | Short-term | 395,000 |
Lone Pine, CA | A | Short-term | 350,000 |
Loleta, CA | A | Short-term | 625,000 |
Los Angeles, CA
Rating:
Legal for non-occupied:
No
Rule Summary:
An accessory use of a Host's Primary Residence for a maximum of 120 days in a calendar year for the purpose of providing Short-Term Rental in compliance with the registration and other requirements of Los Angeles Municipal Code Section 12.22 A 32.
Rented days limit:
120
San Diego, CA
Rating:
Legal for non-occupied:
Yes, subject to a licensing lottery
Rule Summary:
Requires a license for all STRO of a dwelling unit, or part thereof, for less than one month within the City of San Diego; renting an entire property falls into tiers 3-4. The number of licenses issued will not exceed 1% of San Diego's total housing units outside the Mission Beach Community Planning Area, 30% in the Mission Beach Community. The licensing process is a subject to a lottery depending on a number of applications.
Rented days limit:
No limit
San Jose, CA
Rating:
Legal for non-occupied:
Yes
Rule Summary:
If the host is present, short term rentals are allowed up to a maximum of 3 guests in single-family homes and only 2 guests in multifamily dwellings. There is no cap on the annual number of nights a host can book short term rentals if they are present. When the host is not present, annual bookings are capped at 180 days and the maximum number of guests is 2 per studio, 3 per one-bedroom unit, and 2 per bedroom for larger units, up to an absolute max of 10 guests regardless of number of bedrooms. Business Tax Certificates are required, contact https://www.sanjoseca.gov/
Rented days limit:
180
San Francisco, CA
Rating:
Legal for non-occupied:
Yes
Rule Summary:
To be considered the permanent resident, you must spend at least 275 nights a year in the unit where you host short-term rentals. If you own/rent a multi-unit building, you may only register the specific residential unit in which you reside. You may only offer short-term rentals once you have obtained a Business Registration Certificate for your property from the San Francisco Office of the Treasurer & Tax Collector, and then received a certificate from the Office of Short-Term Rentals. The certificate number must be posted on all listings advertising a short-term rental. "Unhosted rentals" occur when you are not present in your unit during your guests' stay. Registered hosts may only conduct unhosted short-term rentals for up to 90 nights per calendar year. This is in addition to the core rule that you may only host short-term rentals in the home where you also live at least 275 nights per year.
Rented days limit:
90 days of non-owner occupied
Sacramento, CA
Rating:
Legal for non-occupied:
Yes
Rule Summary:
In order to have a secondary residence as a STR you need to apply for conditional use and limit the time it can be rented to 90 days.
Rented days limit:
90