We’re about to leave one of the hardest years in history. For many, 2021 will be a year of changes and new beginnings. For many families, this could mean laying down roots in the Golden State. The economics seem just right for a move and there are statistics to show it. Four cities in California are named among the top 10 best housing markets in the country anticipated this coming year, with more in the top 100.
Look for these areas to hit the double-whammy: increased home values coupled with growing sales. This means that while home prices can still be expensive, you’re getting exceptionally better value than in other cities.
What will cause these areas to surpass the rest of the country? According to the analysis by Realtor.com, each of the designated cities and metropolitan locations are thriving tech hubs that are servicing more and more people around the world who are relying on technology to work. Some of the cities are also state capitols and government jobs remain a strong source of employment. Pair those factors with better supply and you’ve got your winners.
Let’s take a look at which areas of California are projected to have the best housing markets in 2021. This list is based on communities that are projected to have the best combined sales growth and price growth.
Sacramento (Roseville, Arden Arcade)
Sacramento is expected to come in first place with a whopping 24.6 % combined sales growth. This is largely due to residents in nearby San Francisco who are relocating for a better value. Analysis shows they are mostly “white-collar” employees who are working remote but need access to their offices. With a median home price of $554,000, Sacramento will have more affordable homes than the Bay Area, but because of the increased demand, the number of home sales will go up by 17.2% and home prices will climb by 7.4%.
San Jose (Sunnyvale, Santa Clara)
San Jose, the technology capitol of the world in Silicon Valley, ranks second on the list. Home to major companies and great schools, the city has a high median home price of around $1.2 million. However, like Sacramento, you get more bang for your buck. Look for home prices and the number of home sales to each increase by approximately 10.8% for a total of 21.6% combined sales growth.
Oxnard (Thousand Oaks, Ventura)
While it’s number eight on the list, Oxnard comes in as the third best housing market in California. About 60 miles outside of Los Angeles, a variety of ocean views and rural living are great features of this growing area. It’s also substantially less expensive to live just outside of LA. Expect the median home price in Oxnard this year to be around $824,000 with home values increasing 5.5% and home sales going up 12.5%. It may not top the list, but an 18% combined growth is not too shabby.
Riverside (San Bernardino, Ontario)
Rounding out the nationwide top 10 (but number four in California) is Riverside. There are a lot of similarities between Riverside and Oxnard, except Riverside is even more affordable. With LA about an hour away, young families and those who want access to the metropolitan area can move in at a bargain (the median home price is only $475,000). There are plenty of nice homes around the Inland Empire region, including in Riverside. Analytics experts say home prices will move up about 5.5% and home sales will climb by 12.4% for a total increase of of 17.9 %.
Other Great California Residential Areas
Some cities and surrounding suburban areas in California will also beat out other parts of the country, according to analytics.
· Fresno (17.4% combined growth)
· Los Angeles (Long Beach, Anaheim) (17.3% combined growth)
· San Diego (Carlsbad) (16.8% combined growth)
· Stockton (Lodi) (14.3% combined growth)
· Bakersfield (14.2% combined growth)
· San Francisco (Oakland, Hayward) (9.7 % combined growth)
California Moving Experts
If you’re looking to move to California to soak up the sun and enjoy life out west, make your relocation easy with an experienced moving company that knows the area. At Oakley Relocation, we have been helping people move for decades, both into the city and to areas where you can stretch your legs. If you’re interested in a relocation in San Diego County, Orange County, the Inland Empire or elsewhere, we are available to guide your moving process. Contact us today at 1-858-602-1010 to learn more about our services and receive a free moving quote.