According to the California Association of REALTORS® (C.A.R.), California sold existing single-family homes at a seasonally adjusted annual pace of 260,410 in September 2026, down 3.4% from August and 6.5% from a year earlier. Sales have now stayed below 300,000 for 48 straight months. Prices held up: the statewide median was $899,720, down only 0.2% from August (C.A.R. says the usual August-to-September drop is 1.8%) and up 1.7% from a year ago.
The numbers
| September 2026 | Figure | A year ago |
|---|---|---|
| Sales (annualized) | 260,410 | 278,540 |
| Median price | $899,720 | $884,390 |
| Price per square foot | $434 | $427 |
| Unsold inventory | 3.7 months | 3.6 months |
| Median days on market | 29 | 32 |
| Sales-to-list price ratio | 98.8% | 98.2% |
| Share of sales at $1 million or more | 35.9% | — |
| Condo/townhome median | $640,000 | −1.5% |
Source: C.A.R. September 2026 home sales and price report (Oct. 19, 2026). Figures are for existing single-family detached homes unless noted.
By region and county
| Area | September median | vs. August | vs. a year ago | Sales vs. a year ago |
|---|---|---|---|---|
| San Francisco Bay Area | $1,325,000 | +4.2% | +1.9% | −3.1% |
| Southern California | $895,000 | −0.6% | +3.0% | −9.1% |
| Los Angeles metro | $855,000 | +0.6% | +3.0% | −8.0% |
| Inland Empire | $601,030 | +0.2% | +1.7% | −10.2% |
| Central Coast | $1,049,500 | −2.4% | +4.4% | +4.4% |
| Central Valley | $500,000 | 0.0% | 0.0% | −2.5% |
| Los Angeles County | $994,670 | +5.0% | +1.2% | −10.9% |
| Orange County | $1,480,000 | +1.9% | +5.6% | −2.0% |
| San Diego County | $1,050,000 | −3.7% | +6.1% | −12.2% |
| Riverside County | $620,000 | −2.1% | −0.6% | −12.7% |
| San Bernardino County | $531,090 | +1.7% | +6.2% | −6.0% |
| Santa Clara County | $1,920,000 | +1.1% | −4.0% | +1.5% |
| San Mateo County | $2,327,500 | +3.4% | +8.3% | −8.6% |
| San Francisco | $2,054,000 | +9.5% | +17.4% | +6.2% |
| Alameda County | $1,265,000 | −1.6% | +1.2% | −4.4% |
| Contra Costa County | $870,000 | −0.6% | +0.1% | −5.7% |
County sales are not seasonally adjusted, and a single month's county median moves with the mix of homes that sold, so read the yearly change rather than the monthly one.
Three things that stand out
- Southern California is where sales slowed most. Sales fell 9.1% from a year ago across the region and 10.9% in Los Angeles County, 12.2% in San Diego and 12.7% in Riverside. Prices did not follow: Southern California's median is still up 3.0%.
- Listings are building in Santa Clara. C.A.R. counts active listings up 26.4% from a year ago in Santa Clara County, and it is one of the few large counties where the median is lower than last year (−4.0%). Statewide, C.A.R. says listings rose mainly because homes are selling more slowly, not because more owners are selling.
- Homes still sell close to asking. The sales-to-list ratio rose to 98.8% and median time on market fell to 29 days. California is slower than a year ago, but not a buyer's market the way metro Atlanta is drifting toward (Georgia MLS: pending sales −24.8% in September, about 5.6 months of supply by our math; see Atlanta in September).
Rates since September
C.A.R. uses Freddie Mac's weekly survey: the 30-year fixed averaged 6.86% in September, up from 6.67% in August and 6.35% a year earlier. Rates kept rising into October, peaked at 7.40% on Oct. 8 and 15, and Freddie Mac's Oct. 29 average was 7.24% after the Fed held on Oct. 28 (what the Fed decision means).
By my rough math (30-year fixed, principal and interest only), the same monthly budget borrows about 3.8% less at 7.24% than at September's 6.86%, and about 8.7% less than at 6.35% a year ago. These are national averages and my own illustration, not a quote; the rate you get depends on your credit, down payment, property and loan size.
What this means if you are buying in California
- Many county medians are above the conforming limit. In 2026 a one-unit loan up to $1,249,125 is conforming in Los Angeles, Orange, San Francisco, San Mateo, Santa Clara and Alameda counties ($1,104,000 in San Diego). Orange ($1.48M), Santa Clara ($1.92M), San Mateo ($2.33M) and San Francisco ($2.05M) medians are all above that line, so many buyers there are choosing between a larger down payment for a conforming loan and a jumbo loan. Price both: jumbo rates have been at or below conforming this fall (2026 California loan limits). FHFA usually announces 2027 limits in late November.
- Refresh your pre-approval. A letter written at September's rates overstates what you can borrow at today's.
- Use the slower pace. With sales down and listings up in Southern California and Santa Clara, ask for seller credits toward closing costs or a rate buydown along with price.
- Comparing with Atlanta? The California median is about 2.2 times metro Atlanta's ($399,900 on Georgia MLS in September). If you are weighing a move or a rental purchase, see buying an Atlanta investment property from California.
I am licensed for home loans in California and Georgia (in California I do loans only, not real estate brokerage) and work alongside your California agent. For the outlook, see C.A.R.'s 2027 forecast; for August, California in August; for loan programs, California home loans. Send me the home or the price range you are looking at and I will run conforming and jumbo side by side at today's rates.
