California's Housing Market Takes a Surprising Turn: $850,000 Homes Now Affordable. In a shocking shift in the California housing market, a growing number of homes priced at $850,000 are being marketed as "affordable" options. According to a recent report, the surge in listings under $1 million is a result of the state's ongoing economic downturn and a decrease in demand for luxury homes. With the median home price in California now hovering above $650,000, these $850,000 properties are being touted as a steal for buyers who previously could only dream of owning a home in the Golden State. But what's behind this sudden shift, and will it last?
