Is Mission Viejo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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
How much do homes in Mission Viejo, CA cost?
Median Sold Price
$960,451
$561/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Mission Viejo have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Mission Viejo was $960,451 in August 2023, down 2.3% from last year, and the median price per square foot was $561.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395.5K | $444.5K | +12.4% |
| 2 Bedrooms | $700K | $726.3K | +3.8% |
| 3 Bedrooms | $940.5K | $938K | -0.3% |
| 4 Bedrooms | $1.2M | $1.2M | +2.4% |
| 5+ Bedrooms | $1.4M | $1.4M | 0.2% |
Summary: Mission Viejo housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Laguna Hills | $990K | $1.1M | +12.7% |
| South Coast | $1.0M | $1.0M | +4.8% |
| Rancho Santa Margarita | $875.4K | $880K | 0.5% |
| Lake Forest | $984.2K | $987.2K | 0.3% |
| Mission Viejo | $983.4K | $960.4K | -2.3% |
Housing Supply
How many homes are available in Mission Viejo, CA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 209 | 204 | -2.4% |
Summary: The Mission Viejo real estate market had 204 homes for sale in August 2023, a 2.4% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 53 | 55 | +3.8% |
| 3 Bedrooms | 75 | 66 | -12.0% |
| 4 Bedrooms | 56 | 65 | +16.1% |
| 5+ Bedrooms | 21 | 16 | -23.8% |
Summary: The Mission Viejo housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 12%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 23.8%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 77 | 76 | -1.3% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mission Viejo, you could pay more than the asking price. 53.9% of homes here sold above asking price last month.
Summary: A total of 76 homes were sold or pending in Mission Viejo in August 2023, down by 1.3% month-over-month. Of the 76 sold homes, 36% were sold under asking, 11% were sold at asking, and 54% were sold over asking.
Days on Market
How long does it take to sell a home in Mission Viejo, CA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 22 Days | 21 Days | -7.0% |
Summary: Homes in Mission Viejo had an average of 21 days on market in Aug 2023, down by 7% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 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 August 2023, 76 homes were sold in Mission Viejo; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% 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.