The most expensive homes in California are concentrated in the San Francisco-Oakland-Berkeley, Los Angeles-Long Beach-Anaheim, and San Jose-Sunnyvale-Santa Clara metro areas. The top city has a typical home value of $7.62 million, with others ranging from about $2.68 million to $5.72 million. Home values have generally increased over five years, with some cities seeing gains over 60%. High mortgage rates and affordability remain key challenges.
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