Buellton, CA Homes For Sale - California Real Estate | BEX Realty (2024)

FAQs

What is the fastest growing real estate market in California? ›

California Association of Realtors' latest report reveals single-family home sales across the state stayed flat for December 2023, while being down 7.1% from Dec 2022. The statewide median price for houses fell . 3% from November, yet is still up 4.3% from 12 months ago.

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

Southern California: SoCal saw a significant decline in home sales, with an 11.1% Y-O-Y drop in June 2024. However, limited inventory and high demand have kept home prices on an upward trajectory despite declining sales.

Experts suggest there may be some moderation in price growth, but it is unlikely that we will see broad declines in the California real estate market. Compared with previous cycles, 2024 shows similar trends around tight inventory and high demand.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March.

Autumn: Fall has determined sellers who look to settle elsewhere before winter. That's why they are open to negotiations and may accept lower asking prices in September, October, and November. Winter: Housing prices are at their lowest in December, January and February.

Bottom line

Thursday is generally thought to be the best day of the week to list a house for sale. Studies have shown that homes listed on Thursdays are more likely to sell faster, and for a higher price, but local markets can differ.

The economy is growing, and while most Southern California households can't afford to buy, there's a sizable population of techies, Hollywood types and other white-collar workers who can funnel excess cash into large down payments that offset high mortgage rates.

What is the minimum income a person needs to have to buy a home in California? ›

New homebuyers now need to make at least more than $106,000 now to comfortably afford a 30-year home mortgage with a 10% down payment, Zillow said.

Interest rates and overall building costs are not forecasted to decrease into 2024, and could even continue rising. The market is volatile and world events are unpredictable, so it is likely that building sooner could save you money in the long run.

Thousand Palms is home to the best residential real estate investment market in California. The 92276 zip code in Thousand Palms presents the greatest opportunity for investors among the 4,420 individual real estate markets in California we evaluated.

According to a recent study by the Urban Land Institute, three Southern California cities – Irvine, Pasadena, and certain suburban neighborhoods – have been identified as top emerging markets for CRE investment.

Home Price Growth by City & State

Since 2013, Idaho and Florida have witnessed the most significant growth, with median home prices increasing by 165.0% and 158.5%, respectively. Other top states include Nevada (+142.6%), Georgia (+141.2%), Washington (+136.9%), Utah (+135.4%), and Arizona (+134.8%).