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14 CALIFORNIAN CITIES WHERE SIGNIFICANT DROPS IN HOME PRICES ARE OBSERVED FOR PURCHASE

Wednesday, May 22, 2024   /   by Bob Cowan

14 CALIFORNIAN CITIES WHERE SIGNIFICANT DROPS IN HOME PRICES ARE OBSERVED FOR PURCHASE



Cities in California




California's diverse and extensive natural beauty, spanning from ski-worthy mountains to lakes, hiking paths, and vibrant urban centers, has always drawn people to settle among its renowned golden landscapes. Yet, alongside these attributes, come notably steep costs.


Although many regions of the state continue to command high housing prices, certain cities in California are witnessing a downturn in the housing market, potentially advantageous for prospective homebuyers. Several of these cities are situated in the northern region of the state, where coastal fog envelops the lush redwood forests for which the area is celebrated.

GOBankingRates presents a list of 14 Californian cities experiencing rapid declines in home prices, offering prospective buyers an opportunity to acquire a home in the all-encompassing West Coast state.

Photo disclaimer: Images are provided for illustrative purposes only. Certain pictures may not accurately depict the town featured on the slide.


Sausalito california

14. Sausalito

April 2024 Home Value: $1,896,936

YoY Percentage Change in Home: -2.13%

YoY Dollar Change In Home: -$41,265

Sausalito, situated on the waterfront in Marin County, lies just north of the Golden Gate Bridge, boasting a population of approximately 7,100 residents. Its proximity to San Francisco renders it an attractive option for those seeking a charming community with convenient access to urban amenities. Although home prices remain elevated in this area, there are indications that affordability may be on the horizon.


Kelsyville california

13. Kelsyville

April 2024 Home Value: $362,337

YoY Percentage Change in Home: -2.16%

YoY Dollar Change In Home: -$7,989

In Lake County, California, Kelseyville emerges as an excellent choice for enthusiasts of outdoor pursuits, nestled at the foot of Mount Konocti and adjacent to Clear Lake. Boasting wineries, dining options, and abundant outdoor recreation, the town provides a vibrant atmosphere. Home prices are notably reasonable and showing signs of decline.


McKinleyville california

12. McKinleyville

April 2024 Home Value: $492,652

YoY Percentage Change in Home: -2.82%

YoY Dollar Change In Home: -$14,304

Situated in Humboldt County, renowned for housing the country's largest redwood trees and offering access to California's stunning Pacific coastline, McKinleyville emerges as one of Northern California's swiftly expanding urban centers, where purchasing a home is within reach.


Fort Bragg california

11. Fort Bragg

April 2024 Home Value: $560,132

YoY Percentage Change in Home: -3.13%

YoY Dollar Change In Home: -$18,115

Fort Bragg, situated approximately 165 miles north of San Francisco in the scenic Mendocino County, boasts a charming historic downtown area overlooking the Pacific Ocean. The town features numerous dining options, abundant state parks, a temperate climate, and a thriving tourism-driven economy that maintains a balance without overwhelming the area. While home prices in Fort Bragg are slightly elevated compared to other Northern California towns, this trend is undergoing a shift.


West Hollywood California

10. West Hollywood

April 2024 Home Value: $1,689,141

YoY Percentage Change in Home: -3.25%

YoY Dollar Change In Home: -$56,809

West Hollywood attained cityhood in the late 1980s and spans a mere 1.9 square miles, nestled within the heart of Los Angeles. Described on the city's website as a vibrant economic and cultural hub, characterized by idealism and innovation, it fosters a sense of community engagement and civic enthusiasm. Although purchasing property in West Hollywood remains relatively costly, there could be opportunities for negotiation.


Lakeport California

9. Lakeport

April 2024 Home Value: $366,437

YoY Percentage Change in Home: -3.35%

YoY Dollar Change In Home: -$12,695

Lakeport, situated in Lake County and described on the city's website as being positioned "in the heart of Northern California's wine country just north of the San Francisco Bay Area," derives its name from its proximity to the western shore of Clear Lake, California's largest natural freshwater lake. With its burgeoning reputation as one of the country's fastest-growing winemaking regions, outdoor enthusiasts and gastronomes alike will find ample enjoyment here. Investing in Lakeport presents an opportune moment before prices undergo potential spikes once more.


Fortuna California

8. Fortuna

April 2024 Home Value: $418,277

YoY Percentage Change in Home: -3.48%

YoY Dollar Change In Home: -$15,071

If your passion lies with redwoods, the ocean, and outdoor activities, you'll find Fortuna to be a perfect fit. Dubbed "The friendly city in the redwood forest" by the Humboldt County Tourism Bureau, this charming Northern California town sits in close proximity to the picturesque Eel River. Additionally, it enjoys easy access to the bustling Highway 101 and hosts popular national festivals like Art and Wine in the Park and the Apple Harvest Festival during the warmer months. With declining home values, now is an opportune time to enter the market in Fortuna.


ARCATA California

7. Arcata

April 2024 Home Value: $510,479

YoY Percentage Change in Home: -3.98%

YoY Dollar Change In Home: -$21,151

Arcata, yet another coastal town in Northern California celebrated for its redwood forests, offers more than just scenic beauty for enthusiasts of the ocean and nature—it's also a vibrant college town. Serving as the home to Humboldt State University, Arcata combines the charm of a small community with its stunning natural surroundings, all while being conveniently located near larger cities such as Eureka and Fort Bragg. The decline in home values presents an excellent opportunity for those interested in investing in a college town ambiance.


Eureka california

6. Eureka

April 2024 Home Value: $415,360

YoY Percentage Change in Home: -4.05%

YoY Dollar Change In Home: -$17,517

Another gem nestled in Humboldt County, Eureka serves as the hub of the renowned "Redwood Coast." Here, one can explore the Avenue of The Giants, which is home to the tallest trees globally, while also enjoying access to rivers and the stunning Pacific Ocean.

Eureka is equally renowned for its culturally cherished Victorian architecture, fostering a culture of creativity, and boasting a charming downtown area teeming with shops and restaurants. With property prices currently at an advantageous level, there may not be a better time to consider purchasing in this area.


Twentynine Palms california

5. Twentynine Palms

April 2024 Home Value: $261,840

YoY Percentage Change in Home: -4.22%

YoY Dollar Change In Home: -$11,529

Twentynine Palms, California, stands out as one of the few Southern California cities featured on this list. Nestled in the Mojave Desert, it is renowned as the gateway to Joshua Tree National Park and Mojave Trails National Monument. Despite its scorching summers, Twentynine Palms attracts individuals who appreciate the distinctive allure of desert landscapes, fostering a tight-knit community of outdoor enthusiasts and history aficionados, among others. With the 2024 average home value ranking as the second lowest on the list and continuing to decrease, now presents an opportune time for potential buyers.


Emeryville california

4. Emeryville

April 2024 Home Value: $774,262

YoY Percentage Change in Home: -4.51%

YoY Dollar Change In Home: -$36,597

Situated in the San Francisco Bay Area, adjacent to Berkeley, California, Emeryville stands out as one of the region's smallest towns, spanning just 1.2 square miles. Despite its proximity to affluent neighborhoods, it appeals to individuals across a broad spectrum of income levels. Described by a San Francisco Chronicle review as "a surprisingly dynamic place," Emeryville boasts scenic trails, historic architecture, a thriving art scene, diverse culinary options, and an impressive new park.

Securing property values below $1 million in the Bay Area is becoming increasingly challenging, making this an opportune moment to enter the market.


Clearlake california

3. Clearlake

April 2024 Home Value: $217,921

YoY Percentage Change in Home: -5.62%

YoY Dollar Change In Home: -$12,981

Clearlake, California, represents one of the trio of cities from Lake County featured on this list, and one of just two positioned with views overlooking the lake. Historically inhabited by the Pomo Native Americans, Clearlake appeals to individuals who relish boating and kayaking on the lake, as well as those seeking a rural lifestyle. With home values ranking lower than many other cities in the state, the present moment offers an excellent opportunity for affordable living.


Ukiah california

2. Ukiah

April 2024 Home Value: $475,866

YoY Percentage Change in Home: -6.52%

YoY Dollar Change In Home: -$33,195

Situated roughly midway between San Francisco and Eureka, Ukiah is an expanding city along California's Highway 101, blending urban amenities with charming rural attractions. Positioned within the Ukiah Valley's renowned wine country at the northern edge of Mendocino County, Ukiah presents an appealing residential option. With a notable decrease in home values amounting to $33,000, the current market conditions make it an opportune moment to consider purchasing before prices resume an upward trend.


Willits California

1. Willits

April 2024 Home Value: -10.01%

YoY Percentage Change in Home: -10.01%

YoY Dollar Change In Home: -$39,717

Willits is often dubbed "the gateway to the redwoods" on its city website, as it serves as the entry point to the "Redwood Coast," where the world's tallest trees flourish. It thrives as an agricultural hub and enjoys proximity to neighboring cities such as Ukiah, Healdsburg, and Santa Rosa. With the most substantial decline in home values among all cities on this list, now presents an ideal opportunity to invest in a home in this town.

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  bob cowan, california, may 2024

Platinum Living Realty
Bob Cowan
120 Newport Center Drive
Newport Beach, CA 92661
949-441-9918
DRE# 01970237

Based on information from California Regional Multiple Listing Service, Inc. as of July 15, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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