According to the latest statistics from the California Association of Realtors, Trinity County boasts the lowest median home price in California at $274,500 for detached homes. The median home price across the state was $868,150 in September 2024, down from $888,740 in August. However, compared to September 2023, the median price has increased by 2.9%.

The association has noted a significant drop in sales volume over the past few months, reaching a nine-month low. Their statement highlighted that uncertainty in the economic outlook, coupled with a cautious attitude regarding declining mortgage rates, has dampened buyer enthusiasm. As a result, sales have decreased for two consecutive months, setting a new low for the year.

Mortgage rates have been fluctuating, and the association suggests that waiting may not be the best strategy. Zillow reported that as of October 21, the 30-year fixed mortgage rate in California stands at 6.28%.

Given the potential for continued price declines in the coming months, the association believes it may be an opportune time for buyers to enter the market. The ten counties with the lowest home prices are:

1. Trinity County: $274,500
2. Lassen County: $265,000
3. Siskiyou County: $290,000
4. Tehama County: $320,000
5. Mariposa County: $322,500
6. Lake County: $335,000
7. Glenn County: $348,000
8. Tuolumne County: $357,500
9. Del Norte County: $370,000
10. Shasta County: $374,500

On the other end of the spectrum, the five most expensive counties are:

1. San Mateo County: $2.1 million
2. Santa Clara County: $1,927,500
3. Marin County: $1.75 million
4. San Francisco: $1,625,000
5. Orange County: $1,397,450

The most expensive homes in California are predominantly located in the Bay Area, where residential prices exceeded $2 million in September, while Southern California’s median price for the same month was $850,000.