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This California Housing Market Plummeted in Value Over the Past Decade — Plus 4 That Dropped Over 3 Years

February 12, 2025

3 min Read

Written by Jennifer Taylor

Edited by Amber Barkley

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California is home to some of the most expensive housing markets in the country. However, the real estate market in every part of the ‘Golden State’ isn’t exactly thriving — several counties have seen a decline in detached home values over the past several years. Some of these are slight, while others are more substantial.

If you’re thinking of buying property in one of these areas, this could be good and bad news. You’ll likely get a better price than you would’ve a few years ago, but you could end up losing money if property values continue to decline and you need to sell.

You won’t find popular areas like Los Angeles, San Diego, Orange County and Santa Barbara on this list. However, you might be surprised to find one notably pricey, well-known market.

Keep reading to learn which five California housing markets are on the decline, with with detached home data sourced from the California Association of Realtors and U.S. Census data.

Next, check out the 10 areas expected to top the California real estate market this year.

10-Year-Decline

Mono County

December 2014 median home price: $625,000
December 2024 median home price: $600,000

Located in eastern central California, Mono County is the only county in the state where real estate prices are lower now than they were 10 years ago.

Mono County has a population of 13,195. The median household income is $86,953, and 34.3% of residents have a bachelor’s degree or higher.

Three-Year Decline

Lassen County

December 2021 median home price: $292,000
December 2024 median home price: $237,000

Situated in the northeastern part of the state, Lassen County has a population of 32,730, and the median household income is $64,395. The median age here is 38 years old.

Mendocino County

December 2021 median home price: $564,950
December 2024 median home price: $507,500

Mendocino County is located along the north coast of California. The population is 91,601, with a median age of 45 years old.

San Francisco County

December 2021 median home price: $1.7 million
December 2024 median home price: $1.5 million

The most well-known on the list, San Francisco County is home to 873,965 people. The median household income is $126,730, and the median age is 41 years old.