California Listing Prices Ease From Their Peak

California's statewide median listing price reached $725K in Late-Q3, down ~3% yearly, showing sellers adjusted expectations after stronger pricing in prior periods.
On a sq-ft basis, California's median listing price was $456 in Late-Q3, about ~1% below a year earlier, reinforcing a broader statewide pricing reset.
Several California markets appeared among notable recent single-family decliners across California, including Oakland, Hayward, Sacramento, Stockton, SF, San Diego, and LA areas.
Several California condo markets also ranked among notable recent decliners across the state, including Oakland, Hayward, Contra Costa County, Fremont, and San Mateo County.
The bigger takeaway for California: asking prices and closed-sale prices both softened, pushing the market toward more realistic seller expectations and clearer price discovery.