California, the land of dreams, is known for its stunning landscapes, diverse culinary offerings, and thriving industries like Silicon Valley and Hollywood. However, one thing to keep in mind before making the move to the Golden State is its high cost of living. Not only are essentials like gas and food more expensive, but the real estate market is also at its peak. But fear not! In this article, we will explore twenty cities in California where home prices have significantly dropped, giving you the opportunity to purchase your dream home on the West Coast.
20. Castro Valley
May 2023 Median Sale Price: $1,137,144
YoY Percentage Change in Home: -10.23%
YoY Dollar Change In Home: -$129,595
Located in the heart of the East Bay, Castro Valley offers a serene suburban lifestyle with easy access to the bustling cities of Oakland and San Francisco. With a year-over-year percentage change of -10.23% and a median sale price of $1,137,144, this city presents an attractive option for potential home buyers. Whether you're looking for a cozy single-family home or a spacious condominium, Castro Valley has a variety of housing options to suit your needs.
19. San Carlos
May 2023 Median Sale Price: $2,329,827
YoY Percentage Change in Home: -10.28%
YoY Dollar Change In Home: -$266,832
Situated in the heart of Silicon Valley, San Carlos combines a vibrant downtown area with a suburban feel. Despite its proximity to major tech hubs, San Carlos has experienced a year-over-year percentage change in home prices of -10.28%, making it an appealing choice for home buyers looking to capitalize on the market downturn. With a median sale price of $2,329,827, you can find a wide range of housing options in this charming city.
18. South Lake Tahoe
May 2023 Median Sale Price: $742,692
YoY Percentage Change in Home: -10.41%
YoY Dollar Change In Home: -$77,280
Nestled in the Sierra Nevada Mountains, South Lake Tahoe offers breathtaking natural beauty and a vibrant outdoor lifestyle. With a year-over-year percentage change in home prices of -10.41%, this city presents an excellent opportunity for buyers looking for a vacation home or a permanent residence. The median sale price of $742,692 makes South Lake Tahoe an affordable option for those seeking a slice of paradise.
17. Livermore
May 2023 Median Sale Price: $1,090,315
YoY Percentage Change in Home: -10.41%
YoY Dollar Change In Home: -$126,634
Livermore, located in the East Bay region, boasts a rich history and a thriving wine industry. With a year-over-year percentage change in home prices of -10.41%, this city offers a favorable market for potential home buyers. The median sale price of $1,090,315 provides an opportunity to own a piece of this vibrant community without breaking the bank. Whether you're looking for a modern suburban home or a charming historic property, Livermore has something to offer.
16. Santa Cruz
May 2023 Median Sale Price: $1,351,582
YoY Percentage Change in Home: -10.44%
YoY Dollar Change In Home: -$157,507
Santa Cruz, known for its beautiful beaches and laid-back atmosphere, is a coastal paradise on California's central coast. With a year-over-year percentage change in home prices of -10.44%, this city presents an excellent opportunity for those looking to invest in a beachside property. The median sale price of $1,351,582 allows buyers to find their dream home or vacation getaway in this idyllic location.
Pro Tip: When purchasing a property in a declining market, it's important to consider the potential impact on property taxes. While falling home prices may lead homeowners to assume that their property tax bills will automatically decrease, this is not always the case. Property tax assessments may not immediately reflect these price drops, requiring homeowners to take proactive steps such as property tax appeals to realize potential tax reductions.
15. Fremont
May 2023 Median Sale Price: $1,454,926
YoY Percentage Change in Home: -10.60%
YoY Dollar Change In Home: -$172,592
Fremont, located in the East Bay region, offers a perfect blend of suburban tranquility and urban amenities. With a year-over-year percentage change in home prices of -10.60%, this city presents an attractive opportunity for home buyers. The median sale price of $1,454,926 allows potential homeowners to find their dream property in this thriving community.
14. Mountain View
May 2023 Median Sale Price: $2,142,656
YoY Percentage Change in Home: -10.65%
YoY Dollar Change In Home: -$255,443
Home to major tech companies like Google and LinkedIn, Mountain View is a vibrant city in the heart of Silicon Valley. Despite its proximity to the tech hub, Mountain View has experienced a year-over-year percentage change in home prices of -10.65%, making it an appealing choice for buyers. With a median sale price of $2,142,656, you can find a range of housing options in this sought-after location.
13. Willits
May 2023 Median Sale Price: $338,831
YoY Percentage Change in Home: -10.71%
YoY Dollar Change In Home: -$40,637
Nestled in the picturesque Mendocino County, Willits offers a small-town charm and a close-knit community. With a year-over-year percentage change in home prices of -10.71%, this city presents an affordable option for potential home buyers. The median sale price of $338,831 allows buyers to find a property that fits their budget without compromising on quality of life.
12. San Anselmo
May 2023 Median Sale Price: $1,681,816
YoY Percentage Change in Home: -10.89%
YoY Dollar Change In Home: -$205,599
San Anselmo, located in Marin County, combines a serene suburban atmosphere with easy access to the vibrant city of San Francisco. With a year-over-year percentage change in home prices of -10.89%, this city offers a favorable market for potential home buyers. The median sale price of $1,681,816 allows buyers to find their dream home in this desirable location.
11. Albany
May 2023 Median Sale Price: $1,317,489
YoY Percentage Change in Home: -11.24%
YoY Dollar Change In Home: -$166,760
Albany, a small city in the East Bay region, offers a close-knit community and a convenient location near major cities like Berkeley and Oakland. With a year-over-year percentage change in home prices of -11.24%, this city presents an attractive opportunity for home buyers. The median sale price of $1,317,489 allows buyers to find a property that suits their lifestyle without breaking the bank.
10. Berkeley
May 2023 Median Sale Price: $1,512,749
YoY Percentage Change in Home: -11.41%
YoY Dollar Change In Home: -$194,928
Berkeley, known for its vibrant culture and prestigious university, is a thriving city in the San Francisco Bay Area. With a year-over-year percentage change in home prices of -11.41%, this city offers a favorable market for potential home buyers. The median sale price of $1,512,749 allows buyers to find their dream home in this dynamic community.
9. San Mateo
May 2023 Median Sale Price: $1,708,961
YoY Percentage Change in Home: -11.49%
YoY Dollar Change In Home: -$221,902
San Mateo, located in the heart of Silicon Valley, offers a perfect blend of suburban tranquility and urban amenities. With a year-over-year percentage change in home prices of -11.49%, this city presents an attractive opportunity for home buyers. The median sale price of $1,708,961 allows potential homeowners to find their dream property in this sought-after location.
8. Oakland
May 2023 Median Sale Price: $892,504
YoY Percentage Change in Home: -11.94%
YoY Dollar Change In Home: -$121,031
Oakland, a vibrant city in the San Francisco Bay Area, offers a rich cultural scene and a diverse community. With a year-over-year percentage change in home prices of -11.94%, this city presents an excellent opportunity for potential home buyers. The median sale price of $892,504 allows buyers to find their dream home in this thriving urban environment.
7. Alameda
May 2023 Median Sale Price: $1,282,556
YoY Percentage Change in Home: -12.12%
YoY Dollar Change In Home: -$176,822
Alameda, an island city in the San Francisco Bay, offers a unique blend of small-town charm and urban amenities. With a year-over-year percentage change in home prices of -12.12%, this city presents an attractive opportunity for home buyers. The median sale price of $1,282,556 allows buyers to find their dream home in this picturesque location.
6. Pleasanton
May 2023 Median Sale Price: $1,599,329
YoY Percentage Change in Home: -12.14%
YoY Dollar Change In Home: -$220,909
Pleasanton, located in the Tri-Valley region, offers a family-friendly community and a thriving downtown area. With a year-over-year percentage change in home prices of -12.14%, this city presents an excellent opportunity for potential home buyers. The median sale price of $1,599,329 allows buyers to find their dream home in this desirable location.
5. Palo Alto
May 2023 Median Sale Price: $3,338,969
YoY Percentage Change in Home: -12.80%
YoY Dollar Change In Home: -$490,187
Palo Alto, home to Stanford University and major tech companies, is a highly sought-after city in the heart of Silicon Valley. Despite its prestigious reputation, Palo Alto has experienced a year-over-year percentage change in home prices of -12.80%, making it an attractive choice for potential home buyers. The median sale price of $3,338,969 allows buyers to invest in a property in this prestigious location.
4. San Francisco
May 2023 Median Sale Price: $1,418,416
YoY Percentage Change in Home: -13.04%
YoY Dollar Change In Home: -$210,177
San Francisco, known for its iconic landmarks and vibrant culture, is a city that captures the essence of California. With a year-over-year percentage change in home prices of -13.04%, this city presents an excellent opportunity for potential home buyers. The median sale price of $1,418,416 allows buyers to find their dream home in this dynamic urban environment.
3. East Palo Alto
May 2023 Median Sale Price: $976,698
YoY Percentage Change in Home: -13.47%
YoY Dollar Change In Home: -$152,059
East Palo Alto, located in the heart of Silicon Valley, offers a diverse community and a convenient location near major tech hubs. With a year-over-year percentage change in home prices of -13.47%, this city presents an attractive opportunity for home buyers. The median sale price of $976,698 allows potential homeowners to find their dream property at a more affordable price.
2. Truckee
May 2023 Median Sale Price: $1,050,673
YoY Percentage Change in Home: -13.50%
YoY Dollar Change In Home: -$163,985
Truckee, nestled in the Sierra Nevada Mountains, offers a picturesque mountain lifestyle and a close-knit community. With a year-over-year percentage change in home prices of -13.50%, this city presents an attractive opportunity for potential home buyers. The median sale price of $1,050,673 allows buyers to find their dream mountain retreat in this scenic location.
1. Dublin
May 2023 Median Sale Price: $1,341,498
YoY Percentage Change in Home: -15.75%
YoY Dollar Change In Home: -$250,795
Dublin, located in the Tri-Valley region, offers a perfect blend of suburban tranquility and urban amenities. With a year-over-year percentage change in home prices of -15.75%, this city presents an excellent opportunity for home buyers. The median sale price of $1,341,498 allows potential homeowners to find their dream property at a significant discount.
In conclusion, if you're looking to purchase a home in California, these twenty cities offer a unique opportunity to take advantage of the declining home prices. Whether you're seeking a serene suburban lifestyle, a vibrant urban environment, or a picturesque mountain retreat, California has it all. Keep in mind that falling home prices may not automatically lead to property tax reductions, so homeowners should be proactive in exploring options such as property tax appeals to realize potential tax savings. So, don't let the high cost of living deter you from pursuing your California dream. Explore these cities and find the perfect place to call home.
Ready to make the most of these declining home prices in California and potentially reduce your property taxes? AOPTA, the Property Tax Experts, is here to guide you through the property tax appeal process. Our team of experienced professionals is dedicated to helping you save on property taxes and secure your dream home without breaking the bank.
Contact us today for a free consultation and let us show you how we can make a difference in your property tax situation. Don't miss out on this opportunity to own a home in California's prime locations while keeping your property tax expenses in check. Your dream home is just a step away with AOPTA.