Is Costa Mesa, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Costa Mesa has remained a Seller's Market.
Key Takeaway
Costa Mesa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Costa Mesa, CA
How much do homes in Costa Mesa, CA cost?
Median Sold Price
$1,265,500
$721/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Costa Mesa have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Costa Mesa was $1,265,500 in March 2024, up 7.7% from last year, and the median price per square foot was $721.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $480K | $813.7K | +69.5% |
| 2 Bedrooms | $750K | $820K | +9.3% |
| 3 Bedrooms | $1.1M | $1.1M | +6.8% |
| 4 Bedrooms | $1.3M | $1.4M | +6.7% |
| 5+ Bedrooms | $1.6M | $1.9M | +16.3% |
Summary: Costa Mesa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69.5%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 16.3%.
Median Sold Price Compared To Nearby Cities
| Santa Ana | $725K | $807.5K | +11.4% |
| Central Coast | $1.6M | $1.8M | +10.7% |
| Costa Mesa | $1.1M | $1.2M | +7.7% |
| Irvine | $1.2M | $1.3M | +7.7% |
| Newport Beach | $3.1M | $3.2M | +3.2% |
Housing Supply in Costa Mesa, CA
How many homes are available in Costa Mesa, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 | 130 | +5.7% |
Summary: The Costa Mesa real estate market had 130 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 15 | 13 | -13.3% |
| 3 Bedrooms | 44 | 62 | +40.9% |
| 4 Bedrooms | 44 | 37 | -15.9% |
| 5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The Costa Mesa housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 40.9%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 45 | +21.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Costa Mesa, you could pay more than the asking price. 57.8% of homes here sold above asking price last month.
Summary: A total of 45 homes were sold or pending in Costa Mesa in March 2024, up by 21.6% month-over-month. Of the 45 sold homes, 29% were sold under asking, 13% were sold at asking, and 58% were sold over asking.
Days on Market for Costa Mesa, CA
How long does it take to sell a home in Costa Mesa, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 33 Days | 17 Days | -48.7% |
Summary: Homes in Costa Mesa had an average of 17 days on market in Mar 2024, down by 48.7% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Costa Mesa are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 45 homes were sold in Costa Mesa; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% 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.