Is Mission Viejo, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mission Viejo is a seller's market

Buyer's
Market

Difference Since June 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

$1,099,928

$618/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$136,751(+14.2%)

Key Takeaway

Homes in Mission Viejo have sold for 14.2% more than they did a year ago.

Summary: The median home sold price in Mission Viejo was $1,099,928 in June 2024, up 14.2% from last year, and the median price per square foot was $618.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $444.5K$455K
+2.4%
2 $725K$770K
+6.2%
3 $934.6K$1.0M
+12.3%
4 $1.2M$1.3M
+10.9%
5+ $1.4M$1.5M
+7.3%

Summary: Mission Viejo housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.3%.

Median Sold Price Compared To Nearby Cities

Lake Forest
+20.7%
Rancho Santa Margarita
+14.9%
Mission Viejo
+14.2%
South Coast
+9.6%
Laguna Hills
+1.0%

Housing Supply in Mission Viejo, CA

How many homes are available in Mission Viejo, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
277251-9.4%

Summary: The Mission Viejo real estate market had 251 homes for sale in June 2024, a 9.4% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 22
0.0%
2 6161
0.0%
3 11498
-14.0%
4 7867
-14.1%
5+ 2223
+4.5%

Summary: The Mission Viejo housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 4.5%.

Number of Homes Sold

May 2024Jun 2024CHANGE
11683-28.4%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mission Viejo, you could pay more than the asking price. 60.2% of homes here sold above asking price last month.

Summary: A total of 83 homes were sold or pending in Mission Viejo in June 2024, down by 28.4% month-over-month. Of the 83 sold homes, 20% were sold under asking, 19% were sold at asking, and 60% 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

Jun 2023Jun 2024CHANGE
15 Days12 Days-16.8%

Summary: Homes in Mission Viejo had an average of 12 days on market in Jun 2024, down by 16.8% compared to last year.

Breakdown of Home Sale Times

72 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mission Viejo are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 83 homes were sold in Mission Viejo; 87% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

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