Home prices are dropping throughout California. This Modesto-area county is an exception

The 2022 real estate cool-down hit most of California in June, as sale prices dropped throughout much of the state. But that didn’t happen in Stanislaus County, where prices rose slightly between May and June.

According to data from the California Association of Realtors, the median sale price of a single-family home in the state dropped 4% in June compared to May. The biggest drop was seen in the Bay Area, where the median sale price was down 7%.

Median sale price drops are fairly common this time of year. And the median sales price in the state, $863,790, is up 5.4% since June of last year. However, the month-over-month decline was among the largest going back to the great recession, when monthly price drops often hovered around 5% or more, according to CAR’s historical data.

in Stanislaus County, the median home price rose 1.1%, from $475,000 in May to $480,000 in June.

A handful of other Central Valley counties saw prices tick up in June over May, including Fresno, San Joaquin and Tulare. Los Angeles saw a jump in median prices of 7.7%.

Year-over-year sales traffic also was down significantly in the state in June. Experts say that’s a result of buyers becoming more patient and picky as mortgage rate hikes add hundreds of dollars to monthly payments.

Even with the market cool-down, California still has the most expensive real estate in the nation, according to Redfin.

This story was originally published August 2, 2022 at 12:50 PM.