Overview
- The California Association of Realtors reported on Monday that existing single‑family home sales in September were 260,410 on a seasonally adjusted annualized basis, down 3.4% from August and down 6.5% from a year earlier.
- Southern California logged the largest regional drop at 9.1% year‑over‑year, with San Diego County sales falling 12.2% from a year ago and 6% from August.
- Higher borrowing costs are the main drag on demand, and C.A.R. President Tamara Suminski said the slower fall market is giving well‑prepared buyers more time to negotiate.
- Average prices dipped modestly in September, with the statewide average slipping from $901,420 to $899,720 and San Diego’s average falling about 3.7% to roughly $1.05 million.
- County results varied sharply: Imperial County’s average price rose from $410,000 to $435,000, Mateo County had the highest median at $2.327 million, and Lassen County had the lowest median at $237,500.