Is Orange, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orange is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Orange has remained a Seller's Market.

Key Takeaway

Orange is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Orange, CA

How much do homes in Orange, CA cost?

Median Sold Price

$962,291

$578/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$32,491(+3.5%)

Key Takeaway

Homes in Orange have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Orange was $962,291 in February 2024, up 3.5% from last year, and the median price per square foot was $578.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $442.5K$435K
-1.7%
2 $648.5K$667.7K
+3.0%
3 $869.5K$932K
+7.2%
4 $1.1M$1.1M
+1.7%
5+ $1.4M$1.3M
-2.1%

Summary: Orange housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 2.1%.

Median Sold Price Compared To Nearby Cities

Tustin
+11.9%
Anaheim-Santa Ana-Garden Grove
+4.1%
Orange
+3.5%
Anaheim
+3.4%
Villa Park
-12.7%

Housing Supply in Orange, CA

How many homes are available in Orange, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
159165+3.8%

Summary: The Orange real estate market had 165 homes for sale in February 2024, a 3.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 77
0.0%
2 2827
-3.6%
3 5654
-3.6%
4 4751
+8.5%
5+ 2126
+23.8%

Summary: The Orange housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 23.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4656+21.7%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orange, you could pay more than the asking price. 51.8% of homes here sold above asking price last month.

Summary: A total of 56 homes were sold or pending in Orange in February 2024, up by 21.7% month-over-month. Of the 56 sold homes, 36% were sold under asking, 13% were sold at asking, and 52% were sold over asking.

Days on Market for Orange, CA

How long does it take to sell a home in Orange, CA?

Average Sale Time

Feb 2023Feb 2024CHANGE
55 Days30 Days-43.7%

Summary: Homes in Orange had an average of 30 days on market in Feb 2024, down by 43.7% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 56 homes were sold in Orange; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% 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 1 Day Ago

Newest Listings in Orange, CA

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