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California's residential market pricey? In 2021, it got even pricier

In October, the median sale price of a single-family home in California was US$798,440, up 12.3 per cent from the year before, according to information from the California Department of Finance - more than double the national median sale price of US$353,900 reported in November by the National Association of Realtors. By Zillow's calculations, he said, the city of San Francisco saw the "typical" home value increase by 9.3 per cent, to US$1.53 million, from November 2020 to November 2021, compared with a state-wide increase of 20 per cent. In November, the median sale price of a single-family home there was US$810,000, according to information from Redfin, up from US$730,000 the previous year - an 11 per cent increase that reflected a mix of larger price increases in more affordable areas and smaller ones in already pricey places like Santa Monica, Fairweather said.

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