Sacramento, CA — California home prices continue their upward trend, setting new records for the month of April.
The statewide median price for homes rose 17.5% to $424,000 dollars. However, prices in Northern California outpaced the rest of the state. The median sale price in Tuolumne County rose 19% from a year ago to $275,000, while Merced County saw a 35% increase.
Experts say the average price of homes in California has more than doubled in the past five years.
Analysts say the market is showing the early signs of slowing down as the number of homes sold last month fell by almost 6% from last year. The state´s average mortgage payment increased to $1924, up more than $200 from a year ago.