SAN BERNARDINO MEDIAN HOME PRICE HITS $450,000 AS OF JANUARY 2022
Given San Bernardino County’s location and relative housing affordability in Southern California, it has become a substantial supplier of jobs in construction and housing-related industries. As a result, the county’s economy is acutely sensitive to changes in the housing market. The trends tracked in this indicator – home sale prices, housing availability, and the number of housing permits granted – signify the health of the county’s housing market and the local economy, as well as consumer confidence.
TREND
Home Sale Price
The median sale price of existing single-family homes increased 15% from $390,000 in January 2020 to $450,000 in January 2022. During the ten-year period between January 2013 to January 2022, the median sale price of homes increased 191% in San Bernardino County, compared to a 127% increase in California.
MEDIAN HOME PRICE GROWTH BEGINS TO MODERATE
Median Sale Price of Existing Detached Homes in San Bernardino County and California, January 2013 – January 2022
Homes Sold
In the one-year period between 2020 and 2021, there was a 10% increase in the number of homes sold, up from 26,782 to 29,430 homes. The 10-year figure is up 7.4% from 2012, when 27,394 homes were sold. Homes sold include single family residences, condominiums, and new homes.
HOMES SOLD IN 2021 REPRESENT 10-YEAR PEAK
Number of Homes Sold in San Bernardino County, 2012-2021
Housing Permits
The number of housing permits granted increased 24% between 2020 and 2021, from 5,129 to 6,342 housing permits. This translates to 2.9 permits granted per 1,000 residents in San Bernardino County, an increase of 0.5 percentage points from 2020 when 2.4 permits per 1,000 residents were granted. The rate of permits granted in San Bernardino County is slightly lower than the California rate of 3.0. Since 2012, the number of permits granted in San Bernardino County increased more than three-fold, up from 0.9 per 1,000 permits granted in 2012.
RATE OF HOUSING PERMITS GRANTED JUMPS IN 2021
Housing Permits Granted per 1,000 Residents in San Bernardino County and California, 2012-2021