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The 20 hottest California real estate neighborhoods now

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California’s fierce housing market has shown signs of chilling in recent months as interest rates rise and uncertainty shakes financial markets.

However, data show housing prices in some parts of the state, such as suburban locations outside metropolitan areas, and locations that are usually coastal and mountain vacation spots.

Chronicle analyzed home price data from real estate listing firm Zillow to identify the fastest zip code across California for typical home price growth from May 2021 to May 2022. The analysis considered only zip codes with a population of 1,000 or more. Based on US census data.

One of the hallmarks of a pandemic that continues in California, Zillow data spokesman Matt Kramer, is that people move from more expensive densely populated areas to suburbs or remote areas at a lower cost.

The January 2020-January 2022 data previously analyzed by Chronicles reflect that trend. Southern California High Dessert Community The top 10 zip codes with the fastest average growth rates for typical home prices are overwhelmingly represented.

Currently, other Southern California communities dominate the list, but two vacation spots, the North Coast and the Central Coast, were at the top.

Home prices are rising and are no longer affordable due to population growth in some areas, Creamer said.

“As more people move to those places in search of affordability, it creates more competition and prices begin to rise more rapidly,” he wrote in an email. .. “The increase in pandemics and remote work has actually driven that trend into overdrive.”

Southern California zip code dominates

According to Creamer, this trend has been greatly demonstrated in Southern California, with Los Angeles residents looking to San Diego and the Inland Empire, especially the first homebuyers who can find better opportunities in these locations. ..

According to an analysis of Zillow data, the six San Diego ZIP codes are the top states with the highest growth in home prices from May 2021 to May 2022, including three in Carlsbad, about 30 miles north of San Diego. It became 20.

“Interestingly, during the pandemic, home prices in San Diego grew much faster than home prices in Los Angeles, and now typical homes in both locations are about the same,” said Creamer.

Zillow Home Value Index Based on multiple data sources, such as seasonal fluctuations and the value of nearby homes, we measure the typical home value of the region and the rise in the home market now and over the long term. This approach is different from the approach used by many National Association of Realtors members. National Association of Realtors subscriber data is obtained from the National Association of Realtors subscribers and broker databases in regions called multiple listing services. The methodologies can be different and the analyzes cannot be compared directly.

Tina King, a member of the National Association of Realtors in Carlsbad, said that over the past two years, many people, including remote executives, professionals and young families, have moved there from Los Angeles and the Bay Area.

“It’s not that crowded here,” King said. “I still feel a little sleepy. The weather is great, but it’s as expensive as anywhere else.”

The draw includes a “lifestyle community” that includes sea views, stunning beaches and weather, and lots of outdoor activities and sports, King said, adding that schools in the area are also very good.

The demographics of the three Carlsbad zip codes are somewhat similar, with a median age of early 40s, about 64% to 75% white and 8% to 20% Hispanic. The median household income was the highest at $ 138,000 in the zip code in 92009, followed by $ 115,000 in 92011 and $ 86,000 in 92008.

Mr King said the market had cooled since around April.

“Prices are falling and inventory of these zip codes is increasing,” she said, now two months from two weeks in stock a year ago.

“There are more options for buyers and sellers to compete with each other,” she said. “There are no more 10 to 15 bids per house. The house is sitting now.”

However, prices have “slightly increased” in some regions, despite market corrections, King said. 9 The median suggested retail price in 2009 was $ 1.8 million last month, but is now $ 2.08 million.

“Coastal towns will always work,” she said.

The vacation area is still hot

The California spots people usually go to escape have become more desirable, not just for second homes and investment real estate, during a pandemic. Some people from the Bay Area, who can work in remote areas, picked up and moved to the beach or forest due to changes in pace.

“In the last few years, we’ve seen some areas traditionally thought to be hot in vacation towns,” said Kreamer of Zillow. “Given that places like the Tahoe and the Central Coast are expanding opportunities for pandemics, prices are rising significantly as people rethink where and how they want to live. “

He added that land constraints could limit inventory. This is usually a combination of “a shortage of land that can be built and regulations that result in a time-consuming and costly process to build,” and prices also rise, especially when interest and competition intensify.

I and Asaloon is located in Groveland (Tuolumne County). Working from home allowed many to move to the town of Sierra.

Jessica Christian / Chronicle

The town of Groveland is the gateway to Yosemite National Park, about 25 minutes west of a popular tourist destination, showing 38% growth in the state’s third-highest home price, usually in May 2021. Home prices went from $ 321,405 to $ 443,885 in May. 2022.

Barry Scale, a broker and owner of Pine Mountain Lake Lodge, said most of Globeland’s inhabitants have retired over the age of 60. According to the US Census, the average age is 63 years, 88% of residents are Caucasian, 5% are Hispanic, 2% are Asian, and 2% are Native American. The median household income is about $ 56,000.

But during the pandemic, it began to change, with “more comprehensive buyers” and many coming from San Francisco and San Jose, Scale said. Within Groveland is Pine Mountain Lake, with approximately 3,000 homes in the Gate Community with golf courses, restaurants, airports, tennis courts and campgrounds.

Groveland is not far from other attractions such as Cherry Lake, Don Pedro Reservoir, Angel Camp, Winery and Dodge Ridge Mountain Resort. However, the trade-off is that it “takes 45 minutes by car to the nearest small city” for larger shopping.

California zip code with the highest house prices in the past year. This Sea Ranch home sold for $ 2.1 million in February.

California zip code with the highest house prices in the past year. This Sea Ranch home sold for $ 2.1 million in February.

Kennedy & Associates

1st place: Sea lunch

The two picturesque towns along the coast have seen the highest growth in housing value in the state over the past year. Sea Ranch’s unique community on the coast of Sonoma County has a population of just over 1,100 and is known for its wooden homes that blend into the landscape.

Following the familiar pandemic pattern, the ability to work remotely has opened up new life possibilities for many. Patibatega, a broker associate in the Mendoshino Coast region, said the recent addition of high-speed internet to Sea Ranch has “changed everything” in the community, allowing new residents to work from home. rice field.

She said people came from other parts of California, including the Bay Area, Sacramento, and much more around Los Angeles. Some people just went into Battega’s office and asked about the town, which was a new experience for her and her business partner, Lisa Huntsche.

According to Battega, Sea Ranch has about 1,800 homes out of 2,225 plots, and there are still quite a few buildings built. However, she added that costs have risen significantly and that buildings in the area are subject to strict rules and property restrictions.

At Sea Ranch, she said the concept was to “live in harmony with nature.”

Prior to the buying frenzy, only about one-third of the residents lived full-time at Sea Ranch, Huntsche said. Currently, it’s about half, with the rest of the vacation rentals and second house.

“Currently, Sea Ranch has more families than ever before,” she said.

There has always been a “strong retired community of active retirees” in the area, but there are good medical centers, but they often leave if residents need more hospital care. To do.

According to the US Census, the median age of Sea Ranch is 68, with 83% of residents white, 17% Hispanic, and 1% Asian. The median household income is just over $ 78,000.

The house in Sea Ranch sold for $ 1.8 million in August 2021.

The house in Sea Ranch sold for $ 1.8 million in August 2021.

Kennedy & Associates

Members of the National Association of Realtors said the proximity to the Bay Area and private runways provides good access to those in need of travel. There are several small schools in the area, but Battega and Huntsche said that many families are likely to be homeschooling their children.

Sea Ranch is technically in a high-risk area of ​​fire, and Mr. Huntsche said he was more concerned about the more wooded ridges. However, she said that due to the proximity of the coast and the high humidity, there were few fires there, and when inland wildfires burned, the air was usually almost clear.

According to Huntsche, new residents have the drawback of being “difficult to attract business owners” to younger generation members who are accustomed to eating out in the bustling metro. “I think we can use more restaurants.”

The house is on the market at Carmel by the Sea for $ 2.8 million.

The house is on the market at Carmel by the Sea for $ 2.8 million.

Provided by Lisa Tally Dean

2nd place: Carmel

The 93921 ZIP Code, which includes Carmel-by-the-Sea, was second on the list with a 43% increase in home prices from May 2021 to May 2022. Typical home prices have risen from $ 2.32 million to $ 3.33 million.

As in many other areas, sales are slowing. About six weeks ago, Carmel’s broker associate, Lisa Tally Dean, said that homes available were in the single digits, but are now nearly tripled. She said there are “more discretionary owners” in the area. In other words, “people don’t have to sell” and prefer to hold up if they can’t buy a replacement.

Historically, Tally Dean says 80% to 90% of homeowners in Carmel and Carmel Point’s market share are retiring or approaching retirement, which owned the second home in the region. I did. Now, at least from her experience, it’s about 50-50.

“I see more people moving here as full-time residents,” she said. “Vital statistics have shifted to young people working with young families,” she can work on her own or remotely. She said the shift “brought vitality to the community.” And it had a “sleepy” reputation for a long time. Most buyers come from within the state and are moving from Southern California more than ever.

But “there is still a lack of diversity here,” said Tally Dean. “There aren’t many casual ethnic restaurants like in big cities. Most restaurants are very expensive …. There is a shortage of casual restaurants at reasonable prices.”

The median age of the 93921 zip code is 65 years. 89% of the residents are Caucasian, 3% are Hispanic, and 2% are Asian. The median household income is just over $ 93,000.

Kelly Fan is a staff writer at the San Francisco Chronicle. Email: [email protected] twitter: @KellieHwang

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