Is Mission Viejo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mission Viejo has remained a Seller's Market.
Key Takeaway
Mission Viejo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mission Viejo, CA
How much do homes in Mission Viejo, CA cost?
Median Sold Price
$1,099,500
$612/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mission Viejo have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Mission Viejo was $1,099,500 in May 2024, up 12.8% from last year, and the median price per square foot was $612.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $450K | $444K | -1.3% |
| 2 Bedrooms | $724.9K | $757.5K | +4.5% |
| 3 Bedrooms | $939.5K | $1.0M | +11.8% |
| 4 Bedrooms | $1.2M | $1.3M | +10.6% |
| 5+ Bedrooms | $1.4M | $1.5M | +9.1% |
Summary: Mission Viejo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
| Lake Forest | $972.9K | $1.1M | +20.4% |
| Rancho Santa Margarita | $854K | $1.0M | +17.8% |
| Mission Viejo | $975K | $1.0M | +12.8% |
| South Coast | $1.0M | $1.1M | +9.3% |
| Laguna Hills | $1.0M | $1.0M | +0.9% |
Housing Supply in Mission Viejo, CA
How many homes are available in Mission Viejo, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 254 | 255 | 0.4% |
Summary: The Mission Viejo real estate market had 255 homes for sale in May 2024, a 0.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 69 | 57 | -17.4% |
| 3 Bedrooms | 92 | 102 | +10.9% |
| 4 Bedrooms | 67 | 70 | +4.5% |
| 5+ Bedrooms | 23 | 24 | +4.3% |
Summary: The Mission Viejo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 17.4%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 76 | 112 | +47.4% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mission Viejo, you could pay more than the asking price. 55.4% of homes here sold above asking price last month.
Summary: A total of 112 homes were sold or pending in Mission Viejo in May 2024, up by 47.4% month-over-month. Of the 112 sold homes, 28% were sold under asking, 17% were sold at asking, and 55% were sold over asking.
Days on Market for Mission Viejo, CA
How long does it take to sell a home in Mission Viejo, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 17 Days | -31.3% |
Summary: Homes in Mission Viejo had an average of 17 days on market in May 2024, down by 31.3% compared to last year.
Breakdown of Home Sale Times
98 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mission Viejo are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 112 homes were sold in Mission Viejo; 88% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.