Monday Market Update: National Home Price Trends Not Applicable To California

SF Gate reports how 3 major metros in our state ‘buck the trend’.

The headlines rarely tell the whole story – especially in real estate. As the spring real estate market emerges and the news reports how sales are shaping up – we encourage you to remember that one headline does not fit all – especially when it comes to housing.

At the beginning of the month, the SF Gate reported that while “…the nationwide housing market remains sluggish and has flipped largely into a buyer’s market, California continues to buck the narrative.” Though national news outlets often report that the trend is shifting towards a buyer’s market and that many of the nation’s buyers pay below list price, that statement does not hold true in 3 major California metros.

Of four cities in the nation that had buyers routinely paying over asking price in a 2025 report, three of them were in the Bay Area: San Francisco, San Jose and Oakland. (The non-California city amidst the list was Newark, New Jersey.) In San Franciso, buyers paid an average of 3.8% above list price, while buyers in San Jose and Oakland paid 2.3% and 1.3% more respectively.

Some real estate sources attribute the above-asking price status of these cities to the AI boom and the return to office work policies. Redfin Chief Economist Daryl Fairweather believes that the rarity to get a home in the Bay Area below list price is a feature of “the resiliency of California.”

For contrast, the biggest ‘discounts’ on homes that are sold is 7% - 9% below list price in Austin, Texas and West Palm Beach, Florida.

Ultimately, the value of your home is going to depend largely and almost entirely on your local micro-market, the condition of your home and the pricing strategy utilized. Please be sure to let us know if you need a referral for a trusted, knowledgeable real estate professional in your neighborhood!

All my best,

Bobbi

Bobbi Decker
DRE#00607999

Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/